Accountants’ Discussion Forum: Navigating the Complexities of Trust Administration: Strategies for Tax Efficiency and Legal Compliance April 2024

What you will learn

By attending this discussion forum, you will be:

• A comprehensive understanding of the current trust landscape, estate planning best practices, and the evolving regulatory environment in South Africa.
• Critical insights into the significance of residency for tax and compliance purposes in South African trusts, considering the increased reporting requirements and international cooperation efforts.
• Actionable strategies for optimizing the tax treatment of trusts, focusing on resident vs. non-resident trustees and beneficiaries, while ensuring compliance with enhanced due diligence and beneficial ownership transparency requirements.
• Proven techniques for effectively applying South African compliance requirements in the management of trusts, mitigating the risks of enforcement actions and penalties.

Description

The rapid globalisation of wealth management, coupled with the increasing focus on trusts by regulators in South Africa, has created a perfect storm of challenges for professionals involved in trust administration. As the legal and regulatory landscape continues to evolve, with heightened reporting requirements, enhanced due diligence, and a push for beneficial ownership transparency, it is essential for financial advisors, accounting practitioners, trustees, and legal practitioners to stay ahead of the curve.  

Content:

The following topics are under discussion for this month:

• Overview of the trust landscape.
• FIC requirements for non-residents.
• Masters requirements for non-residents.
• income Tax Act No 58 of 1962 – s 25B and non-residents.
• Definition of place of effective management.
• Double taxation agreements.

Price

The following pricing apply:

Ad hoc: R304.00 for this webinar

Subscription: Included for free in Accountant in Practice, Accountant in Practice plus Tax, Bookkeeper and QuickUpdate packages.

Requirements

There are no preconditions for this course.

Moderate level.
Recorded webinar made available on a specified date

Presenter

Caryn Maitland CA(SA) 

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002.

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  

Carmen Westermeyer CA(SA) 

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then. In 2008, she was appointed lecturer at UKZN and coordinated the Taxation 300 course until December 2010. She then took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme. 

In December 2012 Carmen started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the FASSET Budget and Tax Update in 2015 and 2016.

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