MyMoney Online, Make Money Mondays

How new tax proposals on trusts may affect them (and their usefulness)

(Also read "Why you should consider having a trust - and what exactly a trust is".)

The Money Show’s Bruce Whitfield interviewed BDO South Africa Tax Practitioner David Warneke.

Warneke spoke about the effect of new tax proposals on trusts.

One intention of the proposed changes is to close tax loopholes that some have exploited to reduce estate duties.

Scroll down for quotes from the audio below.

A trust is regarded as a separate entity from a tax point of view.

David Warneke

Trusts are not for the super-rich only.

David Warneke

There are many advantages to having a trust besides tax.

David Warneke

Trusts mustn’t be taxed out of existence.

David Warneke

All the implications of these proposals haven’t been thought through. Wait until at least June before you consider the unwinding of a trust.

David Warneke

Without the tax advantage people will probably think twice about setting one up.

David Warneke

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : How new tax proposals on trusts may affect them (and their usefulness)


Recommended

by NEWSROOM AI
Read More
Bill proposes 2-year limit for auditors at companies they audit

Bill proposes 2-year limit for auditors at companies they audit

The Money Show’s Bruce Whitfield interviews Stephen Kennedy-Good, Director and Corporate Lawyer at Norton Rose Fulbright.

SA braces for horrific fuel price increases as oil hits 4-year high

SA braces for horrific fuel price increases as oil hits 4-year high

It's monstrous! The Money Show’s Bruce Whitfield interviews the Automobile Association of South Africa's Layton Beard.

Gigaba throws SA tourism a lifeline, backtracks on foreign minor travel rules

Gigaba throws SA tourism a lifeline, backtracks on foreign minor travel rules

The Money Show’s Bruce Whitfield interviews Lee-Anne Bac, Director at Grant Thornton.

Every Tom, Dick and Harriet wants a Harley Davidson (prices start at R89 900)

Every Tom, Dick and Harriet wants a Harley Davidson (prices start at R89 900)

The Money Show’s Bruce Whitfield interviews Fanie Haarhoff, Harley Davidson South Africa Dealer Principal.

Solutionist Thinking: In Conversation with FirstRand's founders

Solutionist Thinking: In Conversation with FirstRand's founders

In the bonus episode of Solutionist Thinking with RMB, Bruce Whitfield speaks the founders of FirstRand, GT Ferreira, Laurie Dippenaar and Paul Harris.

Why you should consider having a trust (and what exactly a trust is)

Why you should consider having a trust (and what exactly a trust is)

Having a trust is an act of love. Here’s what it is (and isn’t) and why you should seriously consider having one.

Popular articles
SA braces for horrific fuel price increases as oil hits 4-year high

SA braces for horrific fuel price increases as oil hits 4-year high

It's monstrous! The Money Show’s Bruce Whitfield interviews the Automobile Association of South Africa's Layton Beard.

Dros rape: 'He was sitting near the kid's play area...he had his eye on her'

Dros rape: 'He was sitting near the kid's play area...he had his eye on her'

The man allegedly attacked the six-year-old inside a toilet cubicle at a Dros franchise in Pretoria on Saturday.

New visa rules a relief for our economy and for jobs, says WC MEC

New visa rules a relief for our economy and for jobs, says WC MEC

The Western Cape government and SA Tourism have welcomed the amendments to South Africa's visa regulations.

New visa amendments to ease travel arrangements for foreign nationals with kids

New visa amendments to ease travel arrangements for foreign nationals with kids

Home affairs Acting Director General at Dept of Home Affairs Thulani Mavuso explains the new visa amendments.

'She says I'm just waiting for this c**lie to move so I can take the photo'

'She says I'm just waiting for this c**lie to move so I can take the photo'

A caller on the Eusebius McKaiser Show, Zeenat says she was called a derogatory word for Indian on Heritage Day.