2016 Trusts & Estate Planning DVD
2016 Trusts & Estate Planning
For some time now, we have been aware that high net worth individuals and trusts remain high on the list of SARS’ focus areas. CRS, AEOI and the overall improvement on information as well as the more complex annual tax filing requirements has certainly ensured that SARS and Treasury now understand the benefits and mechanisms of a trust. Or did the new information cause more confusion?
We do not know the final answer as yet, even the Davis Tax Committee (DTC) in the second and
final report dealing with trusts and estate duty, suggested more in-depth research by SARS. Amongst all this uncertainty, the only certainty is our clients’ questions: Is there a future use for a South African Trust? Should I not create an offshore trust? And the more recent one: Once the SA Reserve Bank changes their rules, will there be no further need for a foreign trust?
Join us as we consider and review, and take a much more practical (example-based approach) to Income Tax, Capital Gains Tax, Exchange Control and Tax Administration Act, covering the below topics.
The following topics will be covered during this seminar:
The current legislation dealing with
South African Trusts and resident beneficiaries
South African Trusts and tax non-resident beneficiaries
The conduit principle – codified or under threat
Proposed new legislation and anti-avoidance measures
The greatest areas of risk for the tax practitioner (by way of practical examples)
Compliance regarding TAA, IT (including CGT), VAT and Estate Duty
Other legislative compliance
Requirements for a valid trust deed and the separation of control
Ensured compliance with the trust deed
Amending Trust Deeds – pros, cons and the risks
The roles of trusts in succession planning
Possible solutions to address the most recent anti-avoidance rules
Services rendered through a trust – at risk?
Are the trustee’s employees? The beneficiaries?
Vesting of rights/assets – an acceptable solution
Bewinds Trust – should we reconsider the benefits
Corporate Transactions Rules – Section 41 to 47 of the ITA
The need for a corporate trustee vs. an independent trustee
Importance of timeous and correct trustee resolutions
What trustees should know and do at the beginning of a tax year
Personal liability and negligence claims
Taxation of trust founder and deemed accruals
Taxation of non-resident trust income and capital
Taxation of resident beneficiaries.
Section 31 vs. Section 7(8)
Taxation of local trusts
Trusts and estate planning
Hugo van Zyl
CA S(A) TEP MTP(SA) M.Com (Tax)
Hugo van Zyl is a chartered accountant passionately committed to people facing tax challenges, be it the resident or migrated taxpayer, his trusted . accountant, auditor, his tax lawyer or the trustee of the family office or trust. Since qualifying and joining SAICA as CAS(A), some 30 odd years ago, Hugo joined SAIT as Master Tax Practitioners and STEP as Trust and Estate Practitioner. Since 1994 his focus has been on migrant taxpayers, be it the returning exiles, those departing for Perth, London, New York, Tel Aviv or Buenos Aires and Los Angeles. The Chris Hani murder saw his audit partner leave South Africa within six weeks, leaving him to acquire specialist knowledge on non-resident trust beneficiaries and exchange control issues acquired through trial and error. In 2003/2004 Hugo c onsulted on more than 1000 tax and exchange control amnesty applications, he lectured from Johannesburg to Wembley (UK) and in between in Springbok Bar, Encino, Los Angeles. Hugo has lectured countrywide (on behalf of SARS and SAICA) and later, on his own in the USA and initiative , at the time Treasury UK introduced VAT, RSC Levies, and CGT. What is today known as the SARS Guide on CGT, began as the treasured lecture material SARS confidentially made available to him in late 2000 and early 2001. In 2012 Hugo relocated from Gauteng to the Western Cape, where has joined Breytenbach Cross-Border Advisory, closely linked the Breytenbachs Immigration Consultants based in London
This DVD and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units.
Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT)
This CPD event will be recorded and available to purchase on DVD. Available 28 October 2016.