Taxation of Trusts - Part 2
Duration: 2 hours
Price: R195.00
This is part of a series
Read more about seriesTaxation of Trusts - Part 2
Presenters : Cheryl Howard
This webinar on demand is part of a series of webinars. Click here to read more
Overview
This video recaps the key factors that determine a valid trust structure. It delves deeper into the conduit principle and how it impacts the tax treatment of annuities received from trusts. The video thoroughly explains Sections 7, 25B, 26A and other provisions dealing with attribution rules, taxation of distributions and vesting, and the taxpayer's responsibilities. Comprehensive examples demonstrate calculating attribution, distribution, vesting, and associated tax liabilities for donors, beneficiaries, and the trust. It covers trustees' duties in documenting resolutions, notifying beneficiaries, and maintaining records. The presentation also guides on financial statement disclosures related to trust taxation for practitioners. Overall, this video provides intricate details on reporting trust income/gains accurately based on the legislation.
This video is based on tax law for the year ending 28 February 2025.
Video content
- Differentiating between attribution, vesting, and distribution, and providing guidance on computing each amount.
- The conduit principle.
- The trustees’ responsibilities with regards to vesting / distributing to beneficiaries and the importance of a paper trail.
- Reviewing the tax practitioner’s duty to ensure comprehensive and accurate disclosure for all taxpayers.