Understanding Trust Taxes

Overview

The taxation of trusts is an area that is often poorly understood. For many years, this did not negatively impact taxpayers, as taxpayers had a lot of freedom to structure trusts in such a way to obtain a tax advantage through effective estate planning. This is certainly no longer the case. The aim of this webinar is to look at the fundamental principles of trust taxation and how these impact the donors, beneficiaries and any other impacted parties. We will explore the tax consequences that could unexpectedly arise for donors and what donors should consider when donating to a trust. We will also discuss the risk areas and how these risks should be mitigated in order to protect the relevant parties involved, especially when financing is provided to trusts

Course Content:

This seminar will cover the following areas

• The principles of trust taxation
  • Income
  • Expenses
  • Distributions
• Anti-avoidance and trusts
• Attribution rules related to trusts (income and capital rules)
• The impact of section 7C
• Tax consequences for beneficiaries
• Tax consequences for donors
• Tax consequences of offshore trusts

Presenter

Carmen Westermeyer

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then.

Carmen stayed with PwC for a year as Assistant Manager, venturing into the world of commerce in 2006. In 2008, she was appointed as a lecturer at UKZN and coordinated the Taxation 300 course until December 2010. From 1 January 2010, Carmen took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme. During her time as Academic Leader she had numerous opportunities to liase with SAICA on issues relating to the ITC, as well as being a member of the Tax Committee.

In December 2012 she started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the SAICA SMP training in 2014 and the FASSET Budget and Tax Update in 2015 and 2016.

CPD

This event and successful completion of the online assessment will secure 5 hours verifiable output Tax CPD points.

Event Pricing

100% discount for 2020 Tax Pracitioner and Tax Accountant CPD subscribers. Not a CPD subscriber yet? Click here to register now

Other members: R575.00

Company Price: R950.00

Payments & Cancellations

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