Exchange Control | South Africa Tax Guide 2006
South African Resident Private Individuals
Private individuals who are over 18 and tax payers in good standing have been permitted to invest abroad since 1 July 1997. The current limit is now increased to R2 000 000 per person.
Miscellaneous
South African residents travelling abroad on holiday or business currently have the travel allowance endorsed in their passports. This requirement is, with immediate effect, dispensed with. Companies and individuals will, where appropriate, need to continue to satisfy the authorities that their tax affairs are in good standing. Various other limits will also be adjusted.
Emigration Limits
Household & personal effects, Motor Vehicles, Stamps, coins & Kruger Rands ................................................ R 1 000 000
Travel and Study Allowances
| Travel : | per adult p.a. (over 12 years) | R 160 000 |
| per child p.a. ( under 12 years) | R 50 000 | |
| Study: | per student p.a | R 160 000 |
| per student p.a (accompanied by spouse) | R 320 000 | |
| Student Travel Allowance: | per student | R 50 000 |
| per student (accompanied by spouse) | R 100 000 | |
| Personal transfer limits for domestic purposes | Maintenance & alimony transfers per month | R 9 000 |
| Monetary gifts & loans p.a | R 30 000 |
Capital Transfers
Capital introduced into the country after 1 July 1997, by resident individuals may be repatriated at any time.