Question:
My fiancee and I are getting married in December and going overseas on honeymoon. In January we are moving overseas for a two-year work contract. How much money are we each allowed to take out of South Africa? I heard it was in the region of R160K each? Can we take out the maximum for our honeymoon, and then the maximum again in January? What, if any, are the implications?

Answer:
Where a holiday is spread over two calendar years (ie December and January), a person must return to the Republic before being allowed the following year?s travel allowance. So as long as you return and leave again you will be able to take out a further R160 000.

The full allowance may be taken in traveller's cheques or foreign bank notes or by debit or credit card, bank draft or overseas money transfer. In addition to the above, an amount of R5000 in SA rand may be taken to cover expenses on returning to South Africa.

If you want to take out more than your travel allowance you will need to get Exchange control permission from the South African Reserve Bank.