by Simone | Dec 5, 2023 | Trust
Reading Time: 4 minutes Reading Time: 4 minutes New Era for Trust Reporting Requirements SARS has officially broadened its third-party reporting requirements to encompass trusts. This was communicated in a Government Gazette notice issued on 30 June 2023. This...
by Simone | Jun 7, 2023 | Trust
Reading Time: 3 minutes Reading Time: 3 minutes Understanding Trust Beneficial Owner Declarations New regulations were introduced on 1 April 2023 that impact trusts, their beneficial owners, and accountable institutions. These regulations were outlined in the General...
by Simone | May 1, 2023 | Trust
Reading Time: 2 minutes Reading Time: 2 minutes Trusts In The Spotlight Trusts have long been in the spotlight for criticism of the alleged use and abuse of these systems as a front for money laundering. A recent amendment in South Africa’s anti-money laundering...
by Chani | Nov 21, 2022 | Trust
Reading Time: 3 minutes Reading Time: 3 minutes SARS currently requires 3rd party declarations of taxpayer activity from banks, financial institutions, medical aid schemes, attorneys, and estate agents. This declaration process is under discussion with affected...
by Chani | Nov 7, 2022 | Trust
Reading Time: 3 minutes Reading Time: 3 minutes As SARS continues to close the net on errant taxpayers, it has recently turned its attention to trusts. Significant non-compliance has been identified between trusts and their beneficiaries as SARS is seeking to...
by Simone | Oct 24, 2022 | Trust
Reading Time: 3 minutes Reading Time: 3 minutes Understanding Trusts An essential characteristic of trust services is the registration with the Master within the area jurisdiction, which is determined by location of the largest portion of assets. Should the Trust have...
