Dealing with interest-free loans

Overview

Section 7C has been around for some time but there are some significant changes to take note of. Loans to companies may now also be subject to section 7C. Does section 7C now preclude the use of loan funding? Debt write off, debt substitution and debt conversion to equity appears are all now taboo, or so it appears to be.

The purpose of this course is to provide guidance on the section 7C application, and the various compliance and planning issues faced by tax practitioners.

Course Content

1. Loans to trusts and companies
2. Interest rate and interest calculations
3. Acquiring a debt
4. Converting debt
5. Interaction between section 7C and section 31
6. Section 7 and section 7C – in conflict?
7. Non-resident funders and beneficiaries – s7(8) and s7C as double tax?

Presenter

Hugo Van Zyl

Hugo van Zyl is a chartered accountant and master tax practitioner, passionately committed to clients facing tax challenges. He is keen to assist either the resident or migrated taxpayer, his trusted accountant, auditor, his tax lawyer or the trustee of the family office or trust. Since qualifying and joining SAICA as CA(SA), some 30 odd years ago, Hugo joined SAIT as Master Tax Practitioners and STEP as Trust and Estate Practitioner. Since 1994 his focus has been on migrant taxpayers, be it the returning exiles, those departing for Perth, London, New York, Tel Aviv or Buenos Aires and Los Angeles. He is therefore closely involved in #Tax2020 facing Expats and succession and estate planning for diasporic families

CPD

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