Newsletter – May 2023 – Issue 132

Offshore markets are going up nicely, but locally the JSE is going sideways.
The Rand is falling through the floor and anyone with overseas investments is having a party. As I have said in almost all of my monthly letters you are crazy if you do not have some or all of your investments offshore. SARS has a whole heap of new rules for people taking money out of the country. I have attached a brief of these new rules in this letter. SARS is also targeting trusts for compliance and has brought out a whole lot of new rules on the reporting of assets, beneficiaries, trustees, movement of money in and out, assets held, decisions made in the trust, etc, etc.
Once I have some finality and information of this, I will put it in my newsletter.