Private wealth

Overview

Wealth brings responsibilities that demand unique services, and managing your wealth in a tax-efficient manner can have long-term benefits for you and your family, and give you peace of mind. We have a keen multi-disciplinary appreciation for the varied dynamics of private clients and family businesses. Not only do we apply this knowledge to help you build on the positive aspects of your private wealth and family enterprise, but we empower you to be in a position to anticipate and mitigate risks by ensuring that your wealth structures are efficient for regulatory purposes.

Our services range from advising you on all aspects of your tax position to liaising with South African Revenue Service (SARS) and the South African Reserve Bank (SARB) on your behalf, and helping you draw up your last will and testament. You will be supported by a team of tax and legal specialists, both within South Africa and globally, drawing on the expertise of our international network and global footprint. We will create the value you are looking for through our in-depth technical insight and personalised client service.

Professional PwC man and woman sitting and talking
PwC professional staring out an office window

Matters where you may need our assistance

  • Do you know what your South African tax residence status is? 
  • Are you eligible to emigrate?
  • Have you completed your tax returns accurately? Are you reasonably certain that you have declared all of your taxable receipts, e.g. your salary, dividends and distributions from offshore trusts, to SARS?
  • Are you comfortable with your offshore tax obligations and its interaction with your South African tax liability?
  • Have you received approval from SARB to move your wealth offshore and to receive certain amounts from offshore sources?
  • Do you need help regularising your position with SARS and/or SARB?
  • When was the last time that you had a professional review of your local and international estate plan (i.e. wills, trusts etc)?

 

How we can help you

Income tax planning

We can help you structure the way you hold your business and personal interests to ensure you maintain compliance with domestic and global tax reporting obligations. This will enable you to take full advantage of available reliefs and double tax treaties.

We can help you assess your worldwide assets (both offshore and onshore) to ensure that you understand the tax implications of holding these assets and how any income streams will be taxed. We also advise on the impact of changing your residence from a tax and exchange control perspective, whether for an inbound or outbound move.

We advise on the tax implications of withdrawing from different types of retirement funds, as well as the interaction of double tax treaties where a person chooses to reside in a different country post-retirement.

Specific services include regularisation, retirement planning, second homes and investment properties, luxury asset advisory.

 

Compliance

We’ll guide you through the tax compliance season in South Africa to manage your expectations around when tax payments are due, so that deadlines are met and you remain fully compliant. We can work with your Authorised Dealer (that acts as an agent of SARB) to overcome the challenges associated with exchange control.

Specific services include preparation and submission of annual income tax returns (ITR12) and provisional tax returns (IRP6), exchange control applications (including foreign investment allowance applications) and directive applications.

 

Succession planning

You spend a lifetime creating an estate, but do you spend enough time ensuring that your wealth is created and managed in the correct structure? Is your Last Will and Testament or  Trust Deed up to date? Is your succession endeavours structured in the best possible manner to ensure a smooth transition of wealth for generations to come? 

The only constant is change and you must ensure that you don't fall behind when it comes to the preservation and transfer of your wealth. We can provide you with a personalised succession plan for transferring your wealth, managing the structure and utilising any available exemptions (i.e. from donations tax or estate duty in South Africa).

We help you draft a Last Will and Testament to cover your local assets in South Africa and advise you regarding your Wills for any other jurisdiction.

Specific services include estate planning and asset restructuring (onshore and offshore), Wills - and Trust drafting, deceased estate administration and legal review of existing Trusts.

 

Family business services

We help you in building lasting value by developing your own individual owner strategy, combining the business and family strategies into a single holistic concept. We’ll work with you and your family to assess your challenges, discuss the scope of your governance design and develop sustainable solutions. We’ll cover topics spanning your goals and values, the owner business model, corporate and family governance, succession planning and implementation to ensure an individually tailored solution.

We provide a full array of business services to your family offices, wherever they’re located, in order to help you to protect and manage your family wealth in a structured manner. We’ll help provide a sense of comfort that your family’s affairs are being looked after in a more personal manner that suits your individual needs. 

Specific services include family business services, family office services.

 

{{filterContent.facetedTitle}}

{{contentList.loadingText}}

{{filterContent.facetedTitle}}

{{contentList.dataService.numberHits}} {{contentList.dataService.numberHits == 1 ? 'result' : 'results'}}
{{contentList.loadingText}}

Follow us

Contact us

James  Whitaker

James Whitaker

Partner, PwC South Africa

Tel: +27 (0) 21 529 2638

 Rushika Valodia

Rushika Valodia

Senior Associate 2, PwC South Africa

Tel: +27 (0) 21 529 2194

Jade Pherushka Hansen

Jade Pherushka Hansen

Senior Associate 2, PwC South Africa

Tel: +27 (0) 21 529 2605

Hide