Beneficial Ownership in South African Trusts: Recent Developments and Regulations in 2024
The concept of beneficial ownership in trusts within South Africa has undergone significant changes, particularly with new regulations coming into effect in 2023 and 2024. These changes aim to improve transparency in trust management and ownership, aligning with international standards to combat financial crimes like money laundering and tax evasion. Key Legislative and Regulatory Changes: […]
How trusts preserve generational wealth
The estate duty savings are compounded over several generations ARTICLES ON trusts are often aimed at settlors or donors to highlight the benefit of trusts and the role they play in estate planning at the ‘first-generation’ level. In this article, the author aims to illustrate to second-generation beneficiaries the effect of the decisions their parents […]
Tax compliance lives beyond death
A deceased estate takes on a (tax) life of its own while being wound up I STARTED my first job back in September 1987 at the tender age of 18, and approximately nine months later I received my very first income tax return from the Receiver of Revenue (as SARS was known in those days), […]