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What lies behind the new, evolving set of governance guidelines looming on the fiduciary’s horizon?

28 September 2016

Fiduciaries may wonder why a new set of King governance guidelines will be released on 1 November this year, but the answer is really quite straightforward: the King IV Report and Code is simply an evolutionary step that maintains relevance, assesses where we are, and points the way forward.

Proposal to Overhaul Estate Duty Abatements

27 September 2016

The Davis Tax Committee (DTC) recently published its much anticipated second report on estate duty. In its report the DTC makes a number of recommendations on the taxation of estates and trusts, including the inter-spouse and primary abatements. It is important to note that these are only advisory in nature and it remains to be seen whether Treasury will draft legislation to give effect to the recommendations.

The importance of leaving a Will: Why you need one and how they work

16 September 2016

The vast majority of people with families do all they can to ensure that the future of their spouses, children and other loved ones will be financially secure. They work hard, they save, and they invest. Yet many don’t consider the essential importance of writing a Will in this regard, assuming that everything they have earned will automatically be left to the “obvious”, intended beneficiaries when they pass away.

New proposed trust legislation: Hit or miss?

30 August 2016

A considerable amount of discussion has occurred in the tax sector following the proposed amendments to the trust legislation - put forth in the draft Taxation Laws Amendment Bill (“TLAB”). Upon closer scrutiny of the proposed amendments, it seems as if the legislation has missed the goals set by the Davis Tax Committee’s Report on Estate Duty (“Davis tax report”). Most notably, the goal to close the wealth gap in South Africa.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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