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Financial planning, trusts and CGT - Pretoria
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Before the advent of CGT, a wide range of techniques, commonly involving the use of trusts, were developed to limit estate duty exposures. CGT threw a large spanner into the works. The central problem presented by CGT is that if the capital gains derived by trusts are to be taxed at the most favourable inclusion rates, the capital gains have to be distributed to resident individual trust beneficiaries.

2012/11/14
When: 2012/11/14
09:00 - 13:00 (Registration from 08:15)
Where: Diep In Die Berg
929 Disselboom Street
Wapadrand
Pretoria, Gauteng  0050
South Africa
Contact: Nadia du Plessis


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Overview

Before the advent of CGT, a wide range of techniques, commonly involving the use of trusts, were developed to limit estate duty exposures.

CGT threw a large spanner into the works.

The central problem presented by CGT is that if the capital gains derived by trusts are to be taxed at the most favourable inclusion rates, the capital gains have to be distributed to resident individual trust beneficiaries. This serves to undo a primary motivation for the use of trusts - keeping wealth out of the hands of individuals.

Against the background of a prior overview of the impact of CGT upon disposals to and by trusts, this programme sets out to provide practical answers to the difficulties we encounter when we set out to steer a middle course between two regimes - estate duty and CGT.

A highlight of the programme is detailed guidance on the funding of trust arrangements, involving the use of partly paid shares.

Course content:

The course coverage will include:
  • General principles regarding the taxation of capital gains derived by or through trusts.
  • The advantages of attracting liability to pay CGT at the level of the donor.
  • The importance of corporate beneficiaries.
  • Drafting the trust deed to ensure optimum flexibility regarding the distribution of capital gains.
  • The amendment of trust deeds, and overcoming obstacles to amendment.
  • The impact of CGT upon a wide range of standard estate planning techniques.
  • Funding the trust - accessing dividends paid by family companies, without a disposal of shares to the trust.

Who should attend

This programme will offer valuable insights to lawyers, accountants and financial planners involved in the creation and administration of trusts, and the administration of deceased estates.

About the presenter

Wouter Scholtz BA (Hons) LLB

Wouter Scholtz conducts an independent practice, based in Cape Town, focussing on CGT in its application to mergers and acquisitions, and estate planning.

Wouter is a former director of Mazars. He previously directed tax training for Deloittes (Australia) and served as a Senior Manager (Mergers and Acquisitions) with PricewaterhouseCoopers in Sydney. On his return to South Africa in 2001, he conducted training in CGT for Deloitte. His authorship includes CGT for Financial Planners, and the Empowermentor BEE Service, all published by LexisNexis.

CPD:

Your attendance will also give you 4 valuable hours of CPD.

EVENT INVESTMENT:

SAIT Members: R850.00
Affiliated Members: R900.00
(includes SAIBA, SAICA, SAIPA, ACCA, IAC, ICB, FPI, CSSA, LSSA, FISA) members
Non-Members: R955.00
Trainees: R400.00

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WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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