Trusts and estate planning
Everything to do with trust and estates
Capital Gains 1804. Bequest of loan to a trust January 2010 - Issue 125 Paragraph 12(5) of the Eighth Schedule to the Income Tax Act No. 58 of 1962, as amended (the Act), was introduced to deal specifically with the scenario where ...
November 14, 2009 By Laura du Preez If you have a residential property in a company, a close corporation (CC) or a trust and you would like to transfer it into your own name, now is the time to do so. The Taxation Laws Amendment Act, which was pro...
Conditions to R7m estate duty exemption for couples June 13, 2009By Laura du PreezEach partner in a couple can make use of the R3.5 million estate duty exemption to ensure R7 million is passed on to their heirs free of duty. But usually they have to ...
Estates and trusts159. Transfer duty - deceased estate - sale of immovable property by executorJune 1995 Section 9(1)(e)(i) of the Transfer Duty Act, 1949 exempts from transfer duty the acquisition of fixed property by virtue of a bequest. ...
Trusts1587. Time of vesting of benefitsDecember 2007 – Issue 100 An established principle in relation to the taxation of trusts is the "conduit principle" in terms whereof trust income or capital that has been vested in beneficiaries ...
Trusts1425. Pitfalls in the administration of trustsIssue 83 - July 2006 Some recent reminders from the courts Family trusts have for many years been a well-known feature of the South African estate planning landscape. In the classic situat...
Estates and Trusts1397. Estate planning with Close CorporationsIssue 80 - April 2006 There has been an interesting and exciting amendment to the Close Corporations Act which at last allows Close Corporations to be included in the range of e...
Anti-Avoidance1711. Trusts held to be a shamMarch 2009 – Issue 115 Ever since the decision in Land and Agricultural Bank v Parker (2005) 2 SA 77 it has been clear that the Supreme Court of Appeal is awaiting an opportune case to d...
Johannesburg, Tuesday, 01 February 2011 – Gone are the days when taxpayers avoided paying transfer duties by buying primary residences in the name of their companies, CCs or trusts. This was before the introduction of capital gains tax (...
Estate Duty 1271. An estate duty pitfall for farmers March 2005 – Issue 67 For farm land to be valued for estate duty purposes at its Land Bank value, it is important to ensure that it is not sold "in the course ...
Capital Gains Tax 1951. Trusts conduit pipe principle May 2011 - Issue 141 Rene Magritte (1898 - 1967), the Belgian Surrealist artist, painted a smoking pipe and below it the words "Ceci n’est pas une pipe", (Th...
DONATIONS TAX 1929. Capital distributions from trusts ...
QUESTION In SARS's FAQ's they say FREQUENTLY ASKED QUESTIONS AND ANSWERS - ESTATES 1. What is the CGT implication with regard to a Deceased Estate (paragraph 40 of the Eighth Schedule to the Income Tax Act) (...
QUESTION My client sees me (his auditor) as his trusted advisor, and wants to appoint me as a trustee of his trust, as well as the auditor of it. Can I accept the appointment? ANSWER Be...
Two recent tax cases have highlighted the need for clients to have their wills reviewed by their attorneys periodically. In the past, in what was in effect an advance on an inheritance and an attempt to reduce the estate duty payable on thei...
FURTHER TAX LAW BREAKS FOR HOMES OWNED BY COMPANIES AND TRUSTS The tax break which we anticipated in our newsflash of August this year became law on 31 October 2010. For those who did not read the earlier newsflash I repeat hereunder its conte...
