Your Sending Limits (SDA and FIA)

Every South African citizen older than 18 years of age has a R1m allowance to send out each calendar year, known as a Single Discretionary Allowance (SDA). On top of this, you can apply for additional increases to this limit up to R10m for the calendar year, known as a Foreign Investment Allowance (FIA). 

In total, you could potentially send out R11m in the calendar year.

Single Discretionary Allowance

Your Single Discretionary Allowance (SDA) allows you to invest or send South African Rands offshore as you like – no need to alert SARS or get tax clearance to do so. This is the amount which you’d use up for your international holidays or buying goods from Amazon. It’s important to keep track of this as SARS can issue fines for going above it, and your Treasury Outsourcer will not let you go above your SDA.

Foreign Investment Allowance

Your Foreign Investment Allowance (FIA) is over and above your SDA and you need to get a tax clearance certificate from SARS which enables your Treasury Outsourcer to send your funds. You do not need to have used up any of your SDA in order to request or use your FIA. Please see here on how to request your FIA approval.