Budget: forex easing measures

Published Mar 2, 2014

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The Budget Review contains measures to further ease foreign exchange controls. They include:

* An increase in the credit card payment limit for transactions in a foreign currency. The limit has gone from R20 000 to R50 000 per transaction. This does not form part of your R1m annual discretionary allowance.

* Income transfers to South Africans temporarily abroad. If you are temporarily abroad, you will be allowed to receive your retirement pension or annuity income abroad. This is over and above your R4m offshore investment allowances.

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