Trusts: The impact of the Davis Tax Committee proposals on trusts

“The impact of the Davis Tax Committee proposals on trust

The South African trust, notably the discretionary trust, is currently widely used as an estate-planning structure that (historically) has been considered when dealing with wealthy individuals and their families. Due to the legitimate benefits of the discretionary trust, coupled with an unfortunate perception that wealthy individuals only establish trusts to evade tax obligations, there has been significant and increasing focus on trusts in recent years. As a result of this focus, clients are naturally concerned that family trusts are ‘under attack’ by SARS.”

 

Please click here to read the full article – Courtesy of Nedbank Private Wealth

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