Ensuring their children are cared for when they pass away is one of the primary reasons people draw up a will. But what happens when the best interests of the children that are left behind are not at the forefront
Additional changes to income tax returns for trusts
The South African Revenue Service (“SARS”) implemented several changes to the income tax returns for trusts (the ITR12T) on 17 September 2018. These changes are in addition to the changes already made on 26 February 2018. The September 2018 changes
Proposed amendment to the taxation of trusts
National Treasury published its much anticipated proposed annual amendments to tax legislation earlier in July. This year the proposed amendments were widely anticipated to shed led on Treasury’s proposals on how to address the perceived abuse of the trust form
Advantages and disadvantages of trusts
Trusts have various advantages, but unfortunately there are also disadvantages. Although this is not a complete synopsis of all the pros and cons, our experience may assist you in making decisions about Trusts. Advantages: Growth taking place in the
With proposed Tax changes to Trusts, are they still worth while?
Proposed tax changes by the Davis Tax Commission are threatening the taxation of trusts and people are starting to wonder if they should move assets out of trusts and if they should still consider a trust in their financial planning
So what is the future of Trusts?
One of the questions that we are most confronted with by our clients is what the future of trusts are in South Africa. Some questions even point to the misconception that the trust instrument itself as legal form is on
Inter-vivos trusts en testamentêre trusts
Daar bestaan heelwat onkunde oor die gebruik van trusts tydens erflatings. Hierdie artikel poog om lig op hierdie belangrike kwessie te werp.‘n Inter-Vivos Trust staan ook bekend as ‘n lewende of familietrust omdat dit gedurende jou leeftyd opgerig word. ‘n
Belasting van trusts
In die begrotingstoespraak gedurende Februarie 2013 het die Minister van Finansies gemeld dat die belasting van trusts onder oorsig geneem sal word om enige misbruik daarvan te beheer. In die begrotingsoorsig van 2013 deur Nasionale Tesourie is die volgende gemeld:
The importance of the independent trustee
A well-known court case, Land Bank of South Africa vs JL Parker and Two Others (the Parker case) irrevocably changed the requirements for independent trustees to be appointed and placed renewed focus on the duties and responsibilities of all trustees.
So when am I authorised to act as trustee?
The Trust Property Control Act 57 of 1988 defines a trustee as meaning “any person (including the founder of the trust) who acts as a trustee by virtue of an authorisation under Section 6.” In the matter of Lupacchini vs