Awareness campaign: Registration of trusts for tax purposes
SARS has embarked on a path to rebuild its organisational capability and restore institutional integrity. In line with SARS’ Vision 2024 and beyond, we highlight the following: Higher Purpose: Enabling the government to build a capable state and foster sustainable economic and social development that serves the wellbeing of all South Africans. Vision 2024: A […]
Interest free loans and trusts
The recent introduction of section 7C to the Income Tax Act brought the taxation of trusts, and the funding thereof specifically, under the spotlight again. Briefly, section 7C seeks to levy donations tax on loans owing by trusts to connected parties (typically beneficiaries or the companies they control). To the extent that interest is not charged, […]
Trust litigation – Who can institute a claim and which court has jurisdiction?
This article deals with the questions of who can institute litigation on behalf of a trust, as well as with the question of how jurisdiction is determined with regards to trusts. Who can institute a claim? A trust is not a legal person and cannot litigate in its own name. The trustees play a vital […]
The benefits of creating a trust
Trusts are well-known to facilitate effective estate planning and continuity planning strategies. That said, setting up a trust – whether an inter vivos (between the living) or a testamentary (created in a will) − should be carefully considered and not just implemented blindly. The difference between testamentary and inter vivos trusts A testamentary trust is […]