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BUDGET SPEECH: SARB INCREASES ANNUAL ALLOWANCES!

The South African Reserve Bank has announced the following increases to private client limits with effect from 1 April 2015:

 

- FOREIGN INVESTMENT ALLOWANCE

 

South African residents foreign investment allowances will increase from R4 Million to R10 Million per calendar year

 

- DISCRETIONARY ALLOWANCE

 

The sub-categories under the annual R1 Million discretionary allowance will be removed and South African residents will be able to send up to R1M per calendar year out of the country for any legal purpose abroad.

 

- EMIGRATION

 

Emigration allowances increased from R8 Million to R20 Million



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