Living Annuity Drawdown Relief Under Covid-19

Living annuity Generally a living annuity (as distinct from a conventional life annuity, under which a fixed rate of return for life is contractually agreed) is a compulsory purchased investment from a financial institution with a minimum two-thirds of a retirement...

Waiver of trust loans – Donations tax and CGT

Historically, the R100 000 a year donations tax exemption was popularly applied to write down trust loan accounts by estate-planning trust founders/creditors. But, as I said in 201 TSH 2019, any tax-structuring should always take cognizance of its impact upon other...

BUDGET SPEECH 2020/21 TAX YEAR

INDIVIDUALSThe maximum marginal rate for natural persons remains at 45% and is reached when taxable income exceeds R1 577 300 (previously R1,5 million). The minimum rate of tax remains at 18% on taxable income not exceeding R205 900 (previously R195 850). The primary...

Distribution by nonresident trust to RSA beneficiary

Overview of the tax implications ‘Funder’ attribution There is no straightforward, standard rule in advising an RSA beneficiary of the tax implications of a vested right awarded by the trustees of a foreign trust by way of a distribution. First, you need to enquire...