{"id":464438,"date":"2021-02-01T09:20:01","date_gmt":"2021-02-01T07:20:01","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=464438"},"modified":"2021-02-01T09:20:01","modified_gmt":"2021-02-01T07:20:01","slug":"business-talk-in-conversation-with-jean-du-toit","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business-opinion\/464438\/business-talk-in-conversation-with-jean-du-toit\/","title":{"rendered":"Business Talk &#8211; In conversation with Jean du Toit"},"content":{"rendered":"<p>Jean du Toit is an attorney and h<span class=\"aCOpRe\">ead of tax technical<\/span> at Tax Consulting South Africa, and a specialist in tax law and taxation.<\/p>\n<p>Du Toit is an admitted attorney of the High Court with a BCom LLB degree from the University of Pretoria, a Master of Laws &#8211; LLM, and post graduate diploma in tax law from the University of Johannesburg. He has experience in commercial law, litigation, and tax law.<\/p>\n<p>In this episode of Business Talk with Michael Avery, Du Toit discusses a raft of imminent new tax laws, and the feasibility of\u00a0 tax hikes at a time when citizens have been pushed to the brink financially as a result of the impact of the Covid-19 pandemic, and various lockdowns.<\/p>\n<p>Last week, president Cyril Ramaphosa signed the Taxation Laws Amendment Act (TLAA) into law, which will introduce key changes to retirement and emigration.<\/p>\n<p>Under the current legislation, a person who emigrates from South Africa and has formalised their emigration using the \u2018financial emigration\u2019 process, can fully withdraw their retirement funds.<\/p>\n<p>Under the new law, withdrawals after 1 March 2021, taxpayers will only be able to access their retirement benefits if they can prove they have been non-resident for tax purposes for an uninterrupted period of three years.<\/p>\n<p>These new tax laws, combined with growing mistrust between citizens and the government has led to increasing financial immigration with people using their retirement funds to set themselves up in a new country.<\/p>\n<p>Du Toit says that the government&#8217;s more aggressive stance towards tax collection, and financial immigration has caused a flurry of applications from people wanting to take their savings out of the country under the old dispensation.<\/p>\n<p>The full interview is embedded below. You can find all the Business Talk with Michael Avery interviews <a href=\"https:\/\/talk.businesstech.co.za\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/-LHP-YF56oA\" width=\"640\" height=\"370\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jean du Toit is an attorney and head of tax technical at Tax Consulting South Africa, and a specialist in tax law and taxation.<\/p>\n","protected":false},"author":10,"featured_media":464096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[15508,26],"class_list":["post-464438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-opinion","tag-businesstalk","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/464438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=464438"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/464438\/revisions"}],"predecessor-version":[{"id":464524,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/464438\/revisions\/464524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/464096"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=464438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=464438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=464438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}