Overview

A Liquidation and Distribution account is a prescribed-form statutory document, and two examiners read it: the Master of the High Court and SARS. Accounts come back when a figure can't be traced to a voucher, when the recapitulation fails as a cash test, or when the tax wasn't provided for before anyone was paid. This two-hour session follows the deceased-estate executor's account from the first report to the Master through to discharge, and shows what the Master and SARS look for along the way.

Nestene Botha CA(SA) builds an account for a fictitious deceased estate live, section by section, so you can see how each part is drawn up and what the Master checks first. We then cover the tax layers around the account (the deceased, the estate, the heirs and estate duty), what changes for sequestrations and for company and close corporation liquidations, and how to use AI as a second reviewer before you lodge, with the safeguards that needs. You leave with a pre-lodgement checklist to run on your next account.

Webinar Content

• Why accounts come back: the Master and SARS as two examiners of one document
• Which account applies: deceased solvent and insolvent estates, sequestrations, and company or close corporation liquidations
• Before the account: the executor's deadlines, the creditors' notice and the estate bank account
• The account built section by section on a worked example, including the recapitulation cash test, the tax layers and estate duty
• Lodging, objections and distribution to discharge, and using AI as a second reviewer before you lodge

Competencies Developed

• Identify which statutory account applies, with its time limits, inspection period and objection route
• Draft each section of a deceased-estate account in the prescribed form, with vouchers numbered to items
• Calculate the Master's fee, the executor's remuneration and estate duty
• Apply the recapitulation as a cash test, and provide for every tax layer before distribution
• Take an account through the Master's queries, objections and distribution to discharge

Presenter

Nestene Botha

Nestene Botha is a registered Chartered Accountant and the Academic Programme Leader for the BCom Accounting Programme at Mancosa. With a Masters Degree in Auditing Education, she has worked with approximately 10 higher education institutions globally and is deeply passionate about education. Nestene has a keen interest in Artificial Intelligence and its applications in the accounting profession, integrating AI and technology into her lectures and research. She is recognized as one of the top 35 under 35 Chartered Accountants in South Africa by SAICA and one of the top 50 women in accounting worldwide by Practice Ignition. Additionally, she is a co-founder of Explore ProTech, an entrepreneurial haven with the vision of saving the global economy - one small business at a time.

CPD

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

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.