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2017 Trusts & Deceased Estates Seminar – Johannesburg
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2017-09-20
When: 20 September 2017
From 9:00am until 1:00pm
Where: Wanderers Club
21 North Road
Illovo
Johannesburg 2169
South Africa
Contact: Thabelo Raivhogo
0129410400


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Overview

Are you up to date with the latest on trusts and deceased estates?

Join Piet Nel for the latest on Trusts and Deceased Estates which covers the ins and outs of trusts and estate issues. Click here to book your seat now. Not convinced? Read more below…

Trusts

In the first part of the seminar, Piet will share inside knowledge on the implications of the new section 7C of the Income Tax Act, including the proposed changes.

The taxation of the beneficiaries, who are either residents or non-residents of the RSA, on income or capital distributed by a trust will be unpacked. Piet will also cover the taxation of amounts vested by foreign trusts in RSA resident beneficiaries. To ensure we cover the practical issues, Piet will also discuss all changes to the income tax return for trusts (ITR12T) to be submitted by the trustees, as well as the information to be declared by the beneficiaries.

This is the must-attend seminar for accountants and tax professionals. Click here to reserve your spot.

Deceased Estates

In the second part of the seminar, the new tax dispensation for estates of deceased persons will be covered. Piet will include the return of income by the deceased (until death) and thereafter. Emphasis will be placed on the treatment of trading stock and capital gains that arise on death and thereafter. The tax consequences of assets sold before the estate is wound up will also be covered, along with the tax return for section 18(3) estates.

With regard to retirement fund interests, Piet will also share his insights on the treatment of excess contributions to retirement funds and the tax consequences for the deceased or the heirs, where the heirs make an election with regard to the benefits.

Regarding surviving spouses, Piet will look at the disposal of assets before the estate is wound up, accrual claims and the R3.5 million deductions.

Last chance, click here to avoid disappointment.


Course Content

Trusts

Section 7C:

  • The ‘connected person’ rules in relation to a trust
  • When has a person provided a loan, advance or credit to a trust?
  • The nature of an amount vested in a beneficiary, but not paid out
  • New developments:
    • Loans to a company that is a connected person in relation to the trust
    • Natural person acquires a claim to an amount owing by a trust or a company in respect of a loan, advance or credit

Taxation of trust beneficiaries who are residents in the RSA:

  • Income and capital gains (or assets) vested
  • Timing of distributions and supporting documents
  • Non-resident beneficiaries – income and capital gains (or assets) vested

Taxation of trust beneficiaries who are not residents in the RSA:

  • The tax consequences in the RSA of income and/or capital vested in RSA resident beneficiaries
  • Vesting of income or capital in trusts as beneficiaries (multiple trusts)
  • Primary residence in trust

ITR12T trust return:

  • What is new in the 2017 return?
  • New disclosure required in the return of the individual beneficiaries
  • Allocation of expenses

Estates of deceased persons

Normal tax issues:

  • The last return of income of the deceased. Capital gains and specifically where an asset bequeathed to a spouse is disposed of before the estate is wound up
  • The new tax regime for the taxation of income in the estate of a deceased person who died on or after 1 March 2016
  • When does the estate of the deceased person cease to be a taxpayer?
  • The taxation of lump sums:
    • Where election was made to transfer to another fund or withdrawn
    • Received post-death from an employer

Estate duty:

  • Property in the estate:
    • Excess contributions to funds
    • Contributions to foreign funds
  • The treatment of accrual claims
  • The section 4A deduction:
    • New relevant material requirements
    • First dying spouse not resident in the RSA at time of death
  • Section 18(3) estates
  • The last return of income (ITR12) of the estate of the deceased person

Presenter

Piet Nel CA(SA)

Piet Nel is the head of the recently established School of Applied Tax at SAIT's wholly-owned TaxFaculty.

Prior to joining The Tax Faculty, Piet was the project director for tax at SAICA. Over a period of more than a decade, he presented numerous tax seminars and workshops to tax practitioners across the country. He formerly lectured in taxation at Unisa and the University of Pretoria and acted as study supervisor at postgraduate level.

Piet actively contributes to the tax thought in South Africa by regularly appearing on radio and TV talk shows, and by publishing 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

Free for all 2017 General Tax Practitioners and Tax & Accounting CPD subscribers. (Not yet a subscriber? Please click here for more information).

Option 1 - Seminar:

Member: R985.00

Non-member: R1150.00

Printed notes: R50.00

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

This dedicated CPD webinar will be presented on 26 September 2017 from 09.00 – 13.00

Member: R450.00

Non-member: R500.00

Company Price: R850.00

Click here to register for the Webinar


Option 3 - DVD

This CPD event will be recorded and available to purchase on DVD. Available 30 September 2017.

Member: R650.00

Non-member: R720.00

Click here to purchase the DVD


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 4 working days prior to the event no cancellation fee will be charged.

    • If the cancellation occurs less than 4 working 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.

  • Please click here for the full terms and conditions.

 

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.

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