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Home News 2021 Capital gains and multiple trust structures

Capital gains and multiple trust structures

In March 2021, the Tax Court determined whether a trust acted as a ‘conduit pipe’ when it received capital gains from various vesting trusts as a beneficiary, and in turn distributed the same capital gains to its own beneficiaries. The court determined the trust’s tax liability in accordance with section 25B(1) of the Income Tax Act, 58 of 1962 (the Act) prior to its recent amendment.

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