Trust Tax Focus 2024:
Refresh & Upskill on all the Changes
This four-part series is designed to refresh the fundamental principles of the trust ecosystem and unpack the recent and future changes in the trust compliance landscape. This includes the legislative framework, role players and practical implementation of the essential tax compliance and related accounting elements for trusts. On the series’ completion, participants will have clarity on the role players’ responsibilities and confidence in the supporting taxation and accounting frameworks through practical and case study-based examples.
CPD Points: 1 hour per session of verifiable CPD points
WEBINAR 1 | 11 April 2024
Trust Overview: Introductory Fundamentals
WEBINAR 2 | 18 April 2024
Clarifying Complexities in Trust Taxation
WEBINAR 3 | 25 April 2024
Mastering the Trust Tax Return and IT3(t) Reporting
WEBINAR 4 | 02 May 2024
Ultimate Beneficial Owner and Risk Management Recap
Webinar 1 | 11 April 2024
TRUST OVERVIEW: INTRODUCTORY FUNDAMENTALS
Legislation governing the formation and administration of trusts is important but equally important is understanding both the object and purpose of the trust. Understanding the key compliance responsibilities of the various role players in a trust and empowering them to fulfil these responsibilities supports certainty in achieving timely tax compliance.
The importance of the trust instrument and resolutions in informing financial reporting and taxation in the trust eco system cannot be underestimated.
Understanding the accounting reporting requirements is critically important, as it dictates the taxation treatment that follows. This includes both what is reported and how it is reported.
This includes beneficial ownership regulations and IT3(t) reporting. This is considered from the viewpoint of both trustees and beneficiaries
Webinar 2 | 18 April 2024
CLARIFYING COMPLEXITIES IN TRUST TAXATION
Proper interpretation of the complexities in trust taxation is essential. This webinar will unpack these complexities, including the attribution rules in s7 of the Income Tax Act and the Eighth Schedule (CGT) and s7C of the Act with practical examples.
Webinar 3 | 25 April 2024
MASTERING THE NEW AND ENHANCED TRUST TAX RETURN AND IT3(t) REPORTING
The trust income tax return has changed significantly. Ensuring that the trust return is properly prepared requires a clear understanding of the return enhancements including the critical importance in declaring accurate financial information to SARS. This webinar will address, through interactive and case study-based examples, the most important considerations and complexities in preparing trust financial records for submission to SARS including attribution complexities.
How to meet the 30 September 2024 deadline for the newly rolled out IT3(t) reporting? This will require careful planning and timing for all role players.
Webinar 4 | 02 May 2024
ULTIMATE BENEFICIAL OWNER AND SERIES RECAP
Are you able to identify who the beneficial owners of a trust are? Or are you yourself an identified beneficial owner of a trust? This webinar will address the correct identification of beneficial owners and the attached regulatory reporting from the perspective of both the Master of the High Court and SARS. It will focus on the key considerations to apply and conclude with an overview of how to mitigate the risks related to UBO reporting for trusts.
Presenters
Roxshanna
du Toit
CPD Project Co-Ordinator
Roxshanna is a seasoned tax professional and was until February 2024 the Head of Tax, Standard Trust Limited. As one of the market’s largest leading fiduciary services providers, she worked daily on complex matters pertaining to tax and accounting for trusts, deceased estates and the commercial and family interests which necessarily comes therewith. She has a BCom (Taxation Honours) and also served as a lead representative for the Banking Association of South Africa (BASA) in providing input to SARS directly as impacts the fiduciary arena. Her interest sphere is streamlined solutions to overcome the administrative and operational challenges of trustees, accountants, tax practitioners and executors. She considers herself as a practical generalist who excels in getting the job done, and she has been involved in untangling, resolving and ensuring compliance of some of the largest and most complex South African and international trusts, estates and family structures. Her decision to start her own practice allows her to expand her professional horizon as well as spend more quality time with her son.
Sidney
Fletcher
Senior Manager Trust & Deceased Estate Tax Compliance at Tax Consulting South Africa
Sidney is a versatile and results-driven qualified Senior Tax Practitioner. He has more than 20 years of experience working for SARS and was responsible for Taxpayer Education for a big part of that period. He is a dedicated professional with extensive knowledge and his affinity for Individual Taxes makes him an excellent tax planner and skilled at tax optimisation. Committed to the best care for clients through transparent communication. Skilled in negotiation with a strong ability to problem solve to assist clients with tax problems.
Catherine
Fourie
Head of CPD Consortium
Catherine is Chartered Accountant (CA(SA)) and tax practitioner who completed her articles at Deloitte in 2003. After three secondments to the United States of America and Canada, she rejoined Deloitte as audit manager for four years, whereafter she has been a lecturer on the BCom Accounting programme with the Nelson Mandela University for 15 years until early 2024. Her main subjects were Taxation, Auditing and Ethics and Corporate Governance, as well as lecturing on the MCom (Taxation) program.
She has a deep passion for teaching to which she has dedicated most of her professional career, especially fundamental principles. She implemented innovative learning and teaching practices, both online and hybrid/flexible; always ensuring impactful learning. As a member of the SAICA Digital Acumen Working Group she has always been passionate about innovation and resilience, which are both essential for the sustainability and growth of the modern professional. With the many students which have been through her lectures, she is excited to now bring digital innovation to the upskilling of professionals who work in the ever-changing landscape of tax and accounting. Her approach and style is one of ensuring a sound technical base, from where she quickly makes tax and accounting highly practical and relevant; delivering immediate value for anyone attending her training sessions.