Deceased Estates

Overview

In this seminar the taxes arising at and after the date of death of a person will be dealt with. A liquidation and distribution account will be used as the basis for the seminar. The taxes covered will specifically include the normal tax liability at the date of death; the normal tax liability arising after death when income accrues to,, or assets are realised by, the executor; and the estate duty payable.

It will also include the estate duty payable, and the property included in the estate which will includes: property outside the RSA; limited interests in property; shares held by the deceased in companies not listed on an exchange; a buy and sell agreement and the related domestic policy thereto; interests in retirement funds; and property that accrues to, or will be acquired by, the surviving spouse.

Course Content

Normal tax issues:

• The last return of income of the deceased and capital gains at date of death.
• Assets acquired by the surviving spouse and the treatment of accrual claims.
• The taxation of income and capital gains, after date of death, in the estate of a deceased person.
• Dealing with income after date of death where the marriage was in community of property.
• Deceased not a resident of the RSA at time of death.
• The tax consequences of the waiver of debt at the date of death.
• The taxation of lump sums from retirement funds.
• When does the estate of the deceased person cease to be a taxpayer?

Estate duty:

• The format for the calculation of estate duty revisited.
• Property in the estate.
• Property deemed to be property in the estate.
• Deceased was married at the date of death.
• Deductions.
• Valuation of property in the estate.
• Donations tax issues and what happens to the deemed donations, under section 7C of the Income Act
• The REV267, assessment by SARS, the increase in the estate duty rate and when the estate duty must be paid and by whom.

Presenter

Piet Nel
CA (SA)

Piet Nel is a CA (SA) who specializes in taxation.

Recently, he was involved at the Tax Faculty, a training leg of the SA Institute of Tax Professionals (SAIT). He is a visiting professor at Wits and was previously a lecturer in tax at UNISA and the University of Pretoria at postgraduate level.

He was the project director for tax at SAICA for a period of three years. Prior to that, he was a member of SAICA's national tax committee. He is quite active in the development of tax legislation in South Africa by commenting on proposed legislation.

Over a period of more than three decades, he presented numerous tax seminars and workshops to tax practitioners. He regularly speaks on radio and TV and publishes articles.

He was involved, as a member of the SAICA Examination Committee, in setting the entrance examination for CA (SA).

CPD

Practical Workshop:

This event and successful completion of the online assessment will secure 5.5 hours verifiable output Tax CPD points.

Webinar:

This event and successful completion of the online assessment will secure 4 hours verifiable output Tax CPD points.

Event Investment

50% Discount for all 2019 CPD subscribers on the packages to attend the Seminar.(Not yet a subscriber? Please click here for more information).

Option 1 - Seminar:

Non-member: R1595.00

Printed notes: R50.00

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 webinar is free to all CPD subscribers on the subscription packages.

This CPD webinar will be presented in 2 parts: 15:00 – 17:00

Part 1 on 28 October;

Part 2 on 6 November

Non-member: R575.00

Company Price: R950.00

Payments & Cancellations

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  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.

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