In this article on IOL, trust expert Phia van der Spuy urges trustees to acquaint themselves with all the tax consequences that could be triggered when making trust distributions, with a focus on donations duty and estate duty. If they blindly distribute trust income and capital gains to avoid paying higher taxes only for that year, they may trigger other unintended tax consequences.
Read the article here.
Phia van der Spuy is a chartered accountant with a Master’s degree in tax, is a registered fiduciary practitioner of South Africa (FPSA®), a chartered tax adviser, a trust and estate practitioner, and the founder of Trusteeze®, the provider of a digital trust solution.