Law of Trusts 2017
Trusts are dynamic and evolving entities that are constantly changing. As such we need to keep our fingers on the pulse and continually review the position of these entities.
The tax treatment of trusts is currently in a state of flux. This workshop will present the current tax treatment and all proposals from the Davies Tax Committee and National Treasury on the way forward.
Trust have traditionally been used because they offer flexibility and minimal compliance requirements. The Master had minimal oversight of the operations of the Trust and trustees could pretty much dictate terms. Those days are gone. The aim of this session is to provide you with an overview of the compliance requirements when dealing with trusts.
This workshop will delve into the law accounting and tax of trusts by looking at the following:
- Are trusts still relevant?
- The function of a trust
- Do you have a trust?
- The roles of the trustees, beneficiaries, accountants and auditors
- The Trust Property Control Act
- Administration of a trust
- Loans vs Capital
- Distributions - what did the beneficiaries receive?
- Taxation of trusts and SARS requirements
- Proposed changes for trusts for tax