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)
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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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Only written notice of cancellation will be recognised.
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Conditions:
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If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
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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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Please click here for the full terms and conditions.
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