As a non-resident, could anyone shed some brief advice as to the tax implication for myself. I assume, because SA tax is residence based and not source based, I am exempt from tax liability in SA, but need to declare CG and divs for the purposes of declaring my tax liability in the UK. Many thanks.
Not sure about the UK, that is a specialist area for South Africans. But, yes, unless you speculate in shares (and the South African Tax authorities have to inform you that they consider you to be doing so) you will pay no taxes on capital gains. There is an exception, but for shares you will have to own 20% or more of the equity of a property company, which I daresay is unlikely in your case. The dividends, although taxable is South Africa, are also exempt income in SA. Therefore, although you will have to declare the dividends as income if you do complete a South African assessment, they will not be taxable.
I agree with declan with the second part of the question relating to dividend (exemption applies but confirm with the new interpretation on whose hand dividend is taxable as mention by Trevor Mnaual and whether a double tax agreement exist between your country and South Africa ) and holding 20% of equity in a company who net asset is attributable to 80% of property situated in South Africa. As far a shares is concerned , i do believe that Capital Gain Tax applies. Because as far as i am concerned , the true source is S.A
I have recently wrote my CA qualifying exam so what i am inserting is notes that i have from my studies from Cape Town university. I hope this will help. "Deemed disposal Ceasing to be a resident 1. When a person ceases to be a resident , the deemed disposal rule do not apply to ,X Immovable property situated in South Africa ,X Interest and right in such property ,X Certain share in companies owning such property and asset of a permanent establishment in South Africa through which a trade is carried on during the year of assessment"
One interesting point is the all the tax lecturer namely The Mitchell's Brother from Ntl , a tax lady from RAU and the ALex have all clubbed in to purchase or invested in an horse called "Axeterminator". But believe me this horse is a serious piece of "*****" and i have lost alot of money betting on this horse. Cheer