Loans Between Trusts

Yet more on s 7C of the Income Tax Act In essence, s 7C of the Income Tax Act subjects to an annual donations tax, effective as from 1 March 2017, an interest-free or low-interest loan to a resident trust. The effect of applying the 20% donations tax rate to the 8%...

The Special Voluntary Disclosure

Extend the deadline! A group of tax practitioners (me included) is lobbying the National Treasury, requesting the Minister of Finance to grant an extension to the SVDP. Complexity During the 2002/2003 forex and tax amnesty process there was one valuation date for the...

Primary Residence Exemption

More on s 7C of the Income Tax Act Effective as from 1 March 2017, s 7C of the Income Tax Act subjects to an annual donations tax an interest-free or low-interest loan to a resident trust (167, 168 TSH 2017; see also the Monthly Notebook in this issue). An exemption...

Section 7C of the Income Tax Act revisited

I covered the new s 7C of the Income Tax Act, effective as from 1 March 2017, in 162 tsh 2016. In essence, donations tax is levied annually on the provision of an interest-free or soft loan by a natural person (or such a person’s connected person) to a domestic trust,...