In his 2013 Budget Speech the Minister of Finance made clear Treasury's intention to implement changes to the legislation relating to the taxation of Trusts to curb the use of Trusts for tax planning. In terms of the 2012-2017 SARS Compliance Programme high net worth individuals and trusts remain high on the list of specific areas of focus for SARS.
09:00am until 13:30pm
Polokwane, Gauteng 0699
Nadia Du Plessis
Online registration is closed.
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In his 2013 Budget Speech the Minister of Finance made clear Treasury's intention to implement changes to the legislation relating to the taxation of Trusts to curb the use of Trusts for tax planning. In terms of the 2012-2017 SARS Compliance Programme high net worth individuals and trusts remain high on the list of specific areas of focus for SARS. SARS' increased information gathering capacity in terms of the Tax Administration Act and the poor administration of trusts has left taxpayers at risk as trust transactions thought to be tax efficient can be set aside by SARS and new tax liabilities determined, with all the commensurate penalties and interest.
Please join us as we discuss the proposed legislative changes, the greatest areas of risk and what taxpayers can do to prepare for an investigation by SARS.
In this seminar we will inter alia address the following topics as they commonly arise in practice in respect of Trusts
- Requirements for a valid trust deed and the separation of control.
- Creation of annuity income.
- Vesting of rights
- Trustees and importance of timeous and valid Trustee resolutions
- Donors and deemed accruals.
- Taxation of beneficiaries
- Waiver of loans to a trust, donations tax and the effect of the new debt waiver provisions.
- Distribution of dividends by a trust and loss of dividend exemption
- Creation and use of beneficiary loan accounts
- Apportionment of expenses incurred by the Trust and distributable Trust income
- The 2013 Budget speech proposals and the effect of these on use of trusts for CGT planning
- Taxation of Trust capital gains and losses (in terms of the attribution rules).
- Transfer and donation of assets to a PBO trust
- Taxation of Trust founder and deemed accruals
- Taxation of non-resident trust income and capital
- Taxation of resident beneficiaries.
- Tax Administration Act and liability of trustees for tax debts of Trust
- Use of Trading Trusts
- Trusts and estate planning
WHO SHOULD ATTEND:
- Taxpayers registered for Corporate Income Tax, PAYE and/or VAT.
- Tax Practitioners.
- SARS auditors.
- Tax accountants.
- Compliance and risk officers.
Di Seccombe (B Com, LLB, LLM (Taxation)
Di Seccombe is an admitted attorney with a Masters degree in taxation and has been involved in tax for over 10 years. Di is currently the National Head of Tax training and Presentations with Mazars and in this capacity provides tax training to Mazars partners, staff and clients on a national basis. Di also consults on Income Tax matters including, Corporate, Individual and International tax as well as VAT.
Di presents tax seminars on a national basis, focusing on general as well as specialised tax topics. Di still lectures part time for the National School of Accounting to assist up and coming CA's with passing the UNISA CTA (Hons) programme.
Di started her tax career as a full time academic with the University of KwaZulu-Natal before moving into practice. She has presented numerous tax seminars with great success to attendees ranging from JSE Corporate advisers to smaller tax practitioners and is a popular lecturer amongst her students. Di's primary focus in any presentation is that attendees find the material relevant and presented in an understandable and accessible manner.
CPD:Attendance will secure 4 hours verifiable CPD points/units, incl. other professional bodies.
(SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA)
EVENT INVESTMENT:SAIT Members: R850.00
Affiliated Members R950.00
Graduate, internship or learnership trainees: R400.00