Overview

This webinar deals with international estate planning from a South African perspective. It starts with the South African tax framework on death, including estate duty, the capital gains tax consequences of death, donations tax, relevant deductions and abatements, and the relief available where more than one country taxes the same estate.

The session then moves to the practical cross-border issues that usually cause trouble: exchange control, transferring inheritances to resident and non-resident heirs, foreign assets, the interaction between wills in different countries, matrimonial property regimes and forced heirship. The United States, Germany, Switzerland and the United Arab Emirates are used to show how differently countries approach domicile, residence, situs, succession and tax. Case studies bring the rules together and give participants a practical framework to use when advising clients.

Webinar Content

• The South African estate duty framework, including property, deemed property, deductions and the section 4A abatement
• Ordinary residence, domicile and situs, and why the connecting factor matters
• Capital gains tax at death under the Income Tax Act, including the treatment of assets left to a surviving spouse
• Donations tax, section 7C and other taxes that can affect estate-planning structures
• Estate duty agreements and relief from double taxation
• Exchange-control requirements when (foreign or local) inheritances are receivable by South African residents or non-residents
• Foreign inheritances, offshore assets and the documents banks and Authorised Dealers are likely to require
• International comparisons involving the United States, Germany, Switzerland and the United Arab Emirates
• Cross-border wills, formal validity, forced-heirship rules and the risk of conflicting wills
• Matrimonial property regimes, executor appointments, liquidity and digital assets
• Worked examples, case studies and a practical international estate-planning checklist

Competencies Developed

After completing the webinar, participants should be able to:

• identify the main South African estate duty and capital gains tax consequences that arise on death;
• distinguish between residence, ordinary residence, domicile and situs, and apply the correct concept to the issue being considered;
• recognise when a foreign asset or foreign heir creates an additional tax, succession or exchange-control problem;
• work out the likely documentary and regulatory route for paying an inheritance into or out of South Africa;
• compare the broad succession and inheritance-tax rules of the United States, Germany, Switzerland and the United Arab Emirates;
• spot conflicts between wills, forced-heirship rules and matrimonial property regimes before they disrupt the administration of an estate;
• assess whether the estate has enough liquidity and whether the executor can obtain control of foreign and digital assets; and
• use a structured checklist to gather the facts, identify the right advisers and develop a workable cross-border estate plan.

Presenters

Hugo van Zyl

CA(SA) TEP MTP(SA), Cross-Border and Tax Specialist

Hugo is an experienced trainer, lecturer and "go-to" industry specialist. It comes as no surprise that SARS appointed him to lecture on capital gains tax and worldwide taxation based on residency. In the last six years, he has presented at least once a quarter, for anyone of the many professional bodies he belongs to. Based in Cape Town, he is proudly South African yet holds a United Emirates Residency permit, because of his UAE registered practice aimed at expats. Hugo's client base is global, includes intermediary firms, local and international financial institutions and often the powers to be at the professional regulatory bodies he belongs to.

Mathys Briers-Louw

Mathys is an skillful attorney with both local and international legal academic knowledge. He was admitted as an attorney in 2014, marking the beginning of his successful career in the legal field. His expertise covers cross-border legal matters, exchange control, international money transfers and fiduciary services. Mathys provides top-notch legal services to individuals and businesses navigating the challenges of cross-border transactions.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of Tax CPD.

Event Investment

Free for Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R460.00
• Group booking discounts available when you register for a group.

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