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JULIAN HAW CONSULTANTS

Have you left South Africa?

Access 100% of your South African retirement annuity now (even if you’re younger than age 55).

Don't wait for further Rand devaluations to deplete your retirement investments.

We can arrange for your inheritance to be paid, and any other assets, including moving funds with your discretionary allowance, at excellent forex rates.

Contact Julian Haw now for a no cost, no obligation assessment of your tax and emigration status.

ABOUT JULIAN HAW

I have been in the financial services industry in South Africa for nearly three decades, before which I was in business. I am a Chartered Secretary (ACIS) and a registered tax practitioner with the South African Revenue Service (SARS). I have been arranging the formal emigration of clients since 2001.

In 2008, SARS changed the tax laws allowing formal emigrants to access 100% of their retirement annuities at any age. I use my tax expertise in assisting former South African residents to access their own money whether this is from retirement annuities, inheritances and any other funds or investments which remained in South Africa.

I control operations worldwide from my Brisbane office ably supported by Glynnis and her staff at the South African clearing centre in Durban. We can arrange the following services:

— Facilitate the opening of your bank account in South Africa.

— Reactivate your SARS tax account.

— Establish if you have any outstanding taxes.

— Lodge your Tax Clearance Certificate application with SARS.

— Lodge your Reserve Bank application.

— Arrange the surrender your retirement annuities.

— Keep you informed every step of the way.

— Advise you when payment is in your South African bank account with instructions on transferring these funds.

For more information, please contact me so that I can make an assessment of your particular situation.

Why use Julian Haw Consultants?

My area of expertise is in helping you to complete the required emigration formalities. This process includes obtaining forms from SARS, your bank and the Reserve Bank, preparing your supporting documentation and liaising with all of these institutions. If you have already emigrated I can arrange the maturity of your retirement annuity. This includes re-activating your SARS account, re-opening your blocked account, etc. Approximate fees are AUD2,500 (ZAR26,500) to arrange your emigration, which includes arranging for the maturity of your retirement annuity.

This amount is only payable when the assurer has paid the proceeds into your South African blocked account ready to transfer the proceeds to you.

Whether you have R100,000 or R10 million, I will charge you a set fee, rather than a figure based on a sliding scale, because the volume of paperwork is the same. This fee will be lower for amounts below R100,000.

It may be better to retire rather than withdraw the 100% of your retirement annuity if the value is more than R800,000. This is because of the different possible tax scenarios. Please contact me now.

HOW I CAN HELP YOU

The South African Revenue Service (SARS) revised the rules on retirement annuities in July 2008. South African expatriates are now able to access 100% of retirement annuities irrespective of age or when formal emigration took place.

The significance of this is that South Africans of any age can now withdraw their retirement annuity in full. If you left South Africa without formally emigrating, you can emigrate now and benefit from the new legislation. Formal emigration implies a tax clearance, South African Reserve Bank approval and a blocked account.

Why should I emigrate formally?

There are additional benefits of formal emigration:

— You are able to transfer your funds. South African residents who emigrate can take up to R10 million per person. Unofficially, there is no limit in practice.

— You are able to inherit from a deceased estate and remit the full inheritance from South Africa. There is no maximum limit.

How can I find out more?

For more information, please contact me so that I can make an assessment of your particular situation. My assessment will include:

— An estimate of how much South African tax is payable on the surrender of your retirement annuities.

— An offer to arrange the surrender of any retirement annuities.

— An offer to arrange for your emigration, if you have not already done so.

What if I have already emigrated?

You can draw 100% from your retirement annuity even if you are not yet 55.

If you prefer you can retire after 55 and take one third in cash. There are several types of annuities available and I will be happy to illustrate these in detail for your particular situation. They include:

— Capital preserver annuities where the capital is paid out on your death.

— Joint life annuities.

— Single life annuities.

— Market-related living annuities.

THE PROCEDURE

These are the steps involved to arrange formal emigration. You may emigrate at any time even if you are already a citizen in your new country. It does not matter how long ago you left South Africa.

— When we receive your enquiry we will send you our initial response letter together with a questionnaire and authority letter, where you authorise us to check on the status of your SARS account and to obtain values for your policies.

— We advise you on your values and tax payable, as determined by SARS.

— We use your questionnaire answers to send you the correct documents and required supporting documents which the banks and SARS need.

— These documents include a form 336(b) exchange control form, SARS IT21(a) application for tax clearance (emigration) form and, if necessary, bank account opening forms which you complete and return by post or courier.

— You authorize us to liaise with your bank so they can advise their requirements to open a bank account for you. The bank is obliged to open an account even if you have not had one for years

— When you return the above documents to us we:

 — Lodge the original form 336(b) with the bank and obtain a certified copy thereof for SARS from the bank.

 — Lodge the certified copy of the form 336(b) at SARS together with your original IT21(a) form.

— We wait for SARS to issue the Tax Clearance Certificate (TCC). This can take 3 to 8 weeks depending on your SARS tax status.

— When we receive the TCC from SARS, we lodge the original with the bank.

— Your bank then applies to the South African Reserve bank for permission to open a blocked account and to treat you as an emigrant. The South African Reserve Bank (SARB) grants you an Exchange Control Approval Number (ECA). Your bank charges you a fee of about R1,200 to make this application. The SARB application can take up to 6 weeks. The bank now opens a new blocked account for you or converts your existing account to a blocked account.

Note: the bank is obliged to take control of ALL your South African assets.

— After the blocked account is open and the ECA is received, we send you the surrender forms which we will lodge with the assurers as soon as you return them (by email).

— Once the maturity documents have been lodged, the assurer applies for a tax directive to SARS before they pay the cash into your account.

— After you have been paid, we advise you of the amount paid and the amount of tax deducted. We have a standard completion letter which attaches copies of the TCC and ECA letter from the bank. You can now ask the bank to send your cash anywhere you want including Australia, the United Kingdom or the United States (for example). You may close the account or keep it open if you wish.

— We invoice you.

This is a long process that can easily take between 3 and 6 months.

If you are married, your spouse should also complete his or her emigration papers as SARS insists on emigration as a family. Our fee quoted is the same for one or both of you.

You may ask to be put in touch with previous clients to find out how they experienced our service.

SARS RULING

The South African Revenue Service (SARS) has agreed to issue directives for emigrants who wish to withdraw their retirement annuities irrespective of when they emigrated. Previously SARS refused to issue a directive if emigration was prior to 1 March 2008. This practice changed during July 2009 and the date of emigration is no longer relevant.

SARS require the following documents before they will issue a directive:

— Copy of the Tax Clearance Certificate issued by SARS.

— Copy of the letter from the bank confirming that you have emigrated through them and that you have a blocked account.

— Copy of the permanent residence permit for your new country of residence.

— Certificate of residence from the tax authority in your new country.

YOUR QUESTIONS

What is a form IT21(a)?

This is the form South Africans have to submit to SARS to formalise their emigration. It must be accompanied by identity documents, passports, permanent residence visas and form 336(b) among other things. It contains information on the tax payer and all his or her family who are emigrating with him or her. Each spouse must submit their own IT21(a) form.

What is a form 336(b)?

This is the form South Africans have to submit to their bankers so his or her bank can make application to the South African Reserve Bank. The bank requires the same forms as SARS except they must be certified copies. The form contains a list of all your assets and liabilities – both spouses must submit their own 336(b) forms.

I left South Africa years ago and have a new foreign passport. Does that mean I have emigrated formally and can I access my Retirement Annuities?

If you have not previously submitted the form IT21(a) and form 336(b) you have not formally emigrated. This is why SARS ask for copies of these two forms before giving a tax directive to release your Retirement Annuities. Many South Africans have left the country without formally emigrating and they have become residence and citizens of their new country. However, from a South African view point they have not emigrated formally.

If I emigrate formally do I lose my South African Citizenship?

No. If you were born in South Africa you have the right to return unless the law is changed. In Zimbabwe, Zimbabwean-born citizens lost their right to citizenship because one or both parents had the right to another nationality. This is not the case in South Africa. However, if you become a citizen of another country by application, you lose the right to a South African passport whether you emigrate formally or not. The South African department of Home Affairs may not know of this until you apply for a new passport and answer the passport application question: “Have you ever applied for or been granted citizenship of another country?”

I left South Africa years ago and have no South African bank account. Why do I have to open a South African account?

South African exchange control requires a South African bank to be the intermediary between the reserve bank and you. Only a South African bank can certify your form 336(b) for SARS and the life assurers can only pay the proceeds of your Retirement Annuity into a blocked account. This account can be opened, the proceeds received and remitted to you in your new country. The account can then be closed.

I formally emigrated years ago but no longer have a South African account. Does the above still apply?

You have to re-open a new account with the bank which handled your emigration. This is where we occasionally have a problem as some banks have failed to keep your records especially if it is more than 5 years since you emigrated. However, the problems are usually solvable.

I left South Africa many years ago and have no South African tax number. My tax advisor has also emigrated.

I have not yet had a problem reactivating a tax account.

I have heard that the Reserve Bank has relaxed the rules with regard to a bank account and the time to obtain Exchange Control approval. Is this true?

It is true that since June 2011 the bank can give approval "immediately" to qualifying emigrants who have already left and who have less than R10 million in assets. They also technically do not need a South African bank account. However, in practice, the assurers will not issue a cheque and they are precluded by law from paying into a general bank account. I recommend that an account be opened in your name to ensure you receive all the cash due to you.

I have a preservation fund and have already taken my one withdrawal before retirement. Is it true that I cannot access the rest before my retirement age even if I emigrate formally?

Yes, it is true. Preservation funds do not come under pension, provident or retirement annuity fund rules. However, since 2014, SARS have allowed preservation funds to be transferred into a retirement annuity so it can then be surrendered in terms of the emigration surrenders for retirement annuities (SARS retirement fund practice note RF 1/2012).

My wife was a housewife and has never worked or paid tax in South Africa. How do I reactivate her non existent account?

It is easy to open a new tax account for tax clearance purposes.

I have heard that formal emigration takes about six weeks. Why does the process take so long through you?

A good question. If you are in South Africa and approach your own tax office and bankers it can take as little as six weeks to be classed as an emigrant with a blocked account. However, we have postal delays, two to three weeks to receive your original documentation, SARS takes two weeks to send the IT21(a) clearance form from the Durban office to your original office. I have had one Johannesburg tax office application take three months and then the directive is posted to you instead of me. The bank can only work on the original tax clearance letters. They are not allowed to accept certified, emailed or faxed copies. The bank also takes much longer to re-open an account if you are not in South Africa. After the blocked account is open and clearance given the application to mature your retirement annuity is made and SARS takes around four weeks to calculate your tax and give you a directive. This should improve when it is no longer a manual application. I do, however, keep you informed of progress regularly.

What is the process after I give you the go ahead?

1 You authorize me to reactivate your SARS account. I accept appointment as your representative tax payer.

2 I send you form IT21(a) tax clearance application for emigration which you complete and return with the other necessary documents.

3 I send you form 336(b) exchange control form which you complete and return.

4 You authorize me to liaise with your bank so they can advise their requirements to open a blocked account for you.

5 The bank certifies that form 336(b) is correct, so I can take it to SARS with the IT21(a).

6 SARS grants the tax clearance which I then take to your bank.

7  Your bank applies to the South African Reserve bank for permission to open a blocked account and to remit the funds to you.

8 After the blocked account is open and the tax clearance granted. I then complete the Retirement Annuity forms for you to sign and return.

9 The maturity documents are lodged and the cash is paid into your account.

10 I advise you how much was paid and what tax was deducted and you tell the bank to send it to you in your new country of residence and close the account.

11 I invoice you.

REFERRALS AND TESTIMONIALS

Below are some referrals from satisfied clients. The originals are in my files and the referees can be contacted.

October 2021

Thank you so much for your patience, support and assistance. I'm happy to refer friends to you. JB, Tasmania, Australia

Thank you Julian, Glynnis and Brenda for your professional and friendly help. We will definitely pass on good referrals to anyone we hear of in similar circumstances. NM and SM, Auckland, New Zealand

Julian and Glynnis, I am happy to advise that the remittance has been received. Thank you both for your efforts and support in helping to get this over the line. It has been a pleasure doing business with you. D, Queensland, Australia

Thank you so much for your helpful service. I can't tell you how happy and relieved I am to have this matter sorted out. I will certainly recommend your services. BB, Queensland, Australia

September 2021

Glynnis and Julian, thank you for your work in getting my RAs sorted out. I will most definitely refer you to other potential clients. MM, New Zealand

Thank you so much, Glynnis and Julian. We have been very impressed with your service. VdP, Western Australia

Thanks so much to you, Julian and Glynnis, for getting this done for us. It’s been a pleasure dealing with you both and we’ll definitely refer you to any of our friends who need help in the future. BH and RH, Victoria, Australia

Thank you once again, Glynnis and Julian. Our accountant in Perth has already asked us who we used to assist with getting our RA policies out of SA and we have referred you and JHC to her and her client. DS and CS, Perth, Australia

August 2021

Thanks for all your help with our financial emigration. You guys have done extraordinary work for us and there is absolutely no way we could have done this without your help. Thanks very much Lynn as well. DG and JG, New South Wales, Australia

Thank you for outstanding service, Julian and Lynn. GVJ and SVJ, Victoria, Australia

July 2021

Thank you very much, Lynn and Julian, for all your work with our financial emigration. You have been very responsive to and meticulous with all our queries. We will be sure to pass your details on to family and friends. SW and LW, New South Wales, Australia

Julian and Glynnis, a very big thank you from us. We would not have been able to complete this process without you. Thank you, Glynnis, for all your patience and hard work. We really do appreciate it. We have already mentioned you to other friends in Aus and will continue to do so. AH and MH, Victoria, Australia

Thank you so much for all your help with this, Glynnis and Julian, we really do appreciate it. We will definitely be recommending you guys to anyone and everyone. It has been a real pleasure to deal with you. KVZ and EVZ, Queensland, Australia

Glynnis and Julian, just a final thanks to you guys for all the effort to get my last bit of cash out of SA. Now in my Oz bank so I am delighted. As said previously I am happy to be used as a reference for your business. I am sure there will be people that I can refer to you the next few years. Much appreciated. NC, New South Wales, Australia

Thank you for your services, Lynn and Julian. Much appreciated and did not envisage such a complicated process. We appreciate your guidance and persistence in getting this across the line especially since we fall within the time frame of the new rules. You navigated this professionally and successfully and for this we are grateful. We will definitely be recommending you to others. GVR and AVR, Gold Coast, Australia

June 2021

Everything has settled and the money arrived in my account this morning. An easy, painless process. Thank you to you and your team for all your help and support. WM, Queensland, Australia

Thank you very much, Julian and Lynn, for your patience and assistance with our financial immigration. I can honestly say that it feels like a mountain has been taken off my shoulders. CD and JD, Queensland, Australia

April 2021

Thank you, Glynnis, for all your hard work on this. We will refer if we come across someone that wants their money out of South Africa. FL and LL, Queensland, Australia

Thank you for the confirmation received and the guidance on how to get the funds transferred to our Australian account. Appreciate all your assistance in this regard. JH and FH, Western Australia

We just want to thank you and your team for the excellent and smooth service you gave us in assisting with all the processes to get our financial immigration sorted. Greatly appreciated. DS and AMS, Auckland, New Zealand

February 2021

Lynn and Julian, thank you both for all the work in getting our funds out here. It’s much appreciated and very useful. We most certainly will tell our friends and steer people your way. TB and MB, Victoria, Australia

Lynn and Julian, we would like to thank you for your assistance in this marathon financial emigration process. You made it so much easier and made the last bit of it an absolute pleasure. Thank you for bringing light to this process; we would not have been able to do this without you. It was an absolute pleasure working with you and we will recommend you to whomever needs to have their funds brought over to Australia. RT and AT, Queensland, Australia

Julian and Lynn, thank you both for assisting with this. It is one of those matters that you need to start to get finished, and is complex to undertake. I shall certainly pass on recommendation to others in the same position. KL and JL, Perth, Australia

Thank you very much for all your work with this financial emigration. It is greatly appreciated. Julian and his team come highly recommended. They are knowledgeable on the entire process and easy to work with. Feedback during the entire process was timely and proactive. GV and GV, Queensland, Australia

Older referrals can be viewed here.

CONTACT

For further information, please email me at info@julianhaw.com or contact one of my offices.

Australia

Julian Haw
Julian Haw Consultants Pty Ltd
5/19 Riverton Street
Clayfield
QLD 4011
Australia

Tel +61 450 813 799

ABN 50 161 137 766

South Africa

Glynnis Lee
UPC Natal (Pty) Ltd
PO Box 10672
Marine Parade 4056
South Africa

Tel +27 31 701 9603

Brisbane, Australia
Phone +61 450 813 799
Email info@julianhaw.com

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JULIAN HAW CONSULTANTS