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. The increased information gathering capacity that SARS has 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.
Following on from the 2013 Budget speech Treasury indicated that it will at a future stage being reviewing the use of Trusts in all forms of tax planning.
Join us as we discuss the current legislation, 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
Topics to be covered will include:
- Requirements for a valid trust deed and the separation of control.
- Vesting of rights
- Importance of timeous and valid Trustee resolutions
- Personal liability for tax debts of the Trust
- Donors and deemed accruals.
- Taxation of beneficiaries
- Waiver of loans to a trust, donations tax and effect of the new debt waiver provisions.
- Creation and use of beneficiary loan accounts
- Apportionment of expenses incurred by the Trust and distributable Trust income
- 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 information that can be requested by SARS
- Use of Trading Trusts
- Trusts and estate planning
Who should attend:
- Persons involved in financial advisory services, estate planning and real estate
- Tax specialists
- Practicing accountants and lawyers,
- In-house tax managers and advisors
- Financial directors and managers and business owners
- Trustees and Trust beneficiaries
- Property developers
(B Com, LLB, LLM (Taxation)
Di Seccombe is an admitted attourney with a Masters degree in taxation. Di started her tax career as a full time academic with the University of KwaZulu Natal before moving into practice. She is currently the National Head of Tax Training with Mazars and in this capacity trains and consults on Income Tax matters including, Corporate, Individual and International tax as well as VAT. Di, provides internal tax training for Mazars, and presents external tax seminars on a national basis, focusing on general as well as specialised tax topics. She still lectures part time for the National School of Accounting to assist up and coming CA's with passing the UNISA CTA (Hon) programme.
This event and successful completion of the online assessment will secure 4.5 hours verifiable output TAXCPD points/units.
Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC)
Option 1 - Seminar:
Important: Please note that as from 2014 printed copies of notes is optional and will cost additional R50 per set and must be ordered. Electronic notes will be emailed to all registered delegates 2 days prior to the event. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.
Option 2 - Live Webinar Broadcast
This CPD event will be broadcast live on Thursday 9 October 2014 from 09:00 - 13:30
Click here to register for the Webinar
Payments & Cancellations
All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
- Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
- Only written notice of cancellation will be recognised.
- If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
- If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
- If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
- Delegates who book and fail to attend will be liable for the full event fee.
- SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.