Archive | Tax Information

Estate Planning: Get the details right!

Whilst it is good and proper that we should enjoy life and make the most of every opportunity that life presents us with, it is also a fact of life that the mortality rate for all of us is still at 100%. Getting your affairs in order before you die, or otherwise referred to as […]

Offshore Estate Planning

In recent years, many South Africans have availed themselves of the opportunity to diversify a portion of their investment portfolio offshore. With political uncertainty and tough local economic headwinds, this offshore investment exposure has become rather significant for those South Africans with any sort of significant wealth. With offshore asset diversification comes a whole new […]

The Long Arm of SARS

Special mention was made of the Special Voluntary Disclosure Programme (SVDP) or amnesty v3 in the 2017 budget speech. Pravin Gordhan mentioned that to date SARS has received applications totaling R3,8bn in assets which will yield revenues of about R600m. He also waxed lyrical about the automatic exchange of information between tax authorities around the […]

Budget 2017: A Tale of Lions and Buffalo’s

During the introductory remarks of his 2017 Budget Speech, Finance Minister Pravin Gordhan highlighted the African proverb, “If lions work as a team, they will bring down even the buffalo”. The speech and the tax proposal recommendations that followed were a combination of high profile announcements, but between the lines were many stealth like tactical […]

Budget Predictions for the 22nd

On the 22nd February 2017, Pravin Gordhan will be presenting his 2nd budget in his 2nd stint as Finance Minister. Time will tell as to whether it will his swansong budget speech, hopefully recent reports of renewed shenanigans within the government come to naught. It is no secret that to appease the rating agencies, who […]

Give the Gift that Keeps on Giving

It is hard to believe that 2016 is nearly over and we are fast heading into the Christmas festive season. This often brings along the perennial question to most us: What do I get as presents for kids and/or grandkids? Well, this year, why don’t you give them a gift that keeps on giving, a […]

SVDP Tax and Exchange Control Amnesty – Last Chance Saloon

We are now officially into the into the 2016/17 amnesty application period, or the Special Voluntary Disclosure Program (SVDP) as the authorities prefer to name it. This SVDP is open to South African resident individuals and companies. Settlors, donors and beneficiaries of foreign discretionary trusts may elect to apply in their individual capacities. The South […]

Trusts: The Long and Winding Road

We have known for quite a while that government is not at all fond of trusts and the manner in which they allow wealth to be efficiently transferred from one generation to the next. This dislike has manifested itself in a number of ways. Trusts are taxed at a flat rate equivalent to the top […]

A Testing Time for Trusts

On the 8th July 2016 National Treasury released the much anticipated Taxation Laws Amendment Bill (TLAB). Finance Minister Pravin Gordhan in his February budget speech had made some pretty scary remarks about where he wanted legislation to go as pertaining to trusts. The TLAB gives us a window as to exactly where that legislation is […]