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2015 Taxation of Trusts - Cape Town
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2015/10/26
When: 26 October 2015
From 09:00 until 13:00
Where: The Westin
Convention Square
Lower Long Street
Cape Town, Western Cape 
South Africa
Contact: Thabelo Raivhogo


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Overview

The mandate of the Davis Tax Committee is to review South Africa's tax system. The current position of the Committee is therefore very important. To this end, the Committee publicised the fact that it support the use of trusts on condition that it makes sound sense to do so in the pursuit of a commercial justification or benefit, as opposed to generating estate duty benefits.
 
Of significance is the fact that the Committee proposed to the Minister of Finance that the deeming provisions of section 7 and 25B insofar as it applies to RSA resident trust arrangements should be repealed in the next budget cycle.

In this seminar Piet Nel will revisit the law of the taxation of trusts, including the principles in relation to the beneficiaries of trusts. Amongst others Piet will deal with the conduit principle, interest free loans, the use of multiple trusts, services rendered through a trust and the reduction of debt. 

The use of trust as estate planning tool will be will also be covered, as well other taxes such as donations tax, transfer duty and withholding taxes (dividends and interest). The disclosure requirements in the tax return (ITR12T) will also covered.

Course Content

The below content will be covered during this seminar:

  • Understanding trusts
    • The parties to the trust (trust, trustees and beneficiaries)
    • The significance of the trust deed (inter vivos, mortis causa, vested or discretionary rights)
    • The consequences of the trust being a person for tax purposes
    • Special trusts
    • The conduit principle codified
    • Accounting treatment vs tax treatment
    • Vesting
    • The fact that the parties are connected persons
  • Normal income tax
    • Residency of a trust
    • Section 7
    • Attribution of capital gains
    • To spouse, parent, ‘donor’ or resident
    • To beneficiary
    • Dividends – the dividends tax and the treatment of foreign dividends and vested dividends
    • Reduction of debt
    • Non-resident beneficiaries
    • Multiple trusts
  • Services rendered through a trust
    • The proviso to paragraph (c) of the definition of gross income
    • Personal service provider
    • Are the trustees employees? The beneficiaries?
  • The trust in estate planning
    • Property competent to dispose of and the alter ego trust (Rees 5)
    • Limited interests
  • The other taxes
    • Donations tax
      • The Krok trust decision
    • The withholding taxes – interest and royalties
    • Transfer duty
      • Changing beneficiaries
    • Securities transfer tax
    • Value-added tax


Presenter
Piet Nel CA(SA)

Piet is the Head of the recently established School of Applied Tax at the SA Institute of Tax Professionals (SAIT). He formerly lectured in taxation at UNISA and the University of Pretoria and acted as study supervisor on post graduate level. Prior to joining SAIT, Piet was the project director for tax at SAICA. Over a period of more than a decade, Piet presented numerous tax seminars and workshops to tax practitioners. Piet is also well known in the media, regularly appearing on radio and TV talk shows. He actively contributes to the tax thought in South Africa and regularly publishes articles in professional journals and magazines

CPD

This event 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)

Event Investment

Option 1 - Seminar:

2015 CPD subscribers: Free (Use your promo code when registering for this event)

Member: R885.00
Non-member: R985.00

Click here to register for the seminar

Important: 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 - Dedicated Webinar Broadcast

2015 CPD subscribers: Free (Use your promo code when registering for this event)

This dedicated CPD webinar will be presented  on Tuesday 13 October 2015 from 09:00 - 13:00

Member: R370.00
Non-member: R450.00

Click here to register for the Webinar
 
Option 3 - DVD
 
This CPD event will be recorded and available to purchase on DVD. .Available 23 October 2015.
 
Member: R595.00
Non-member: R650.00
 

 

Payments & Cancellations

  • All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
  • Kindly note that should payment not been received 2 days after the event, legal action will be taken
  • 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.
  • Conditions:
    • 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.




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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