by VDT Attorneys | Apr 20, 2026 | Anti-Money Laundering, Anti-money Laundering Amendment Act, Trust, Trust compliance, Trust penalties
To improve compliance, a notice was published in the Government Gazette No. 54417 on 27 March 2026. This notice confirms that SARS will no longer tolerate non-compliance with the submission of trust tax returns (ITR12T) for the 2024/2025 assessment period. This action...
by VDT Attorneys | Apr 20, 2026 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Beneficial Ownership, Is your family trust SARS-proof, Trust compliance
The role of Independent TrusteesOver the past few years, SARS has raised the issue that the trusts are not administered independently by the trustees. An independent trustee is required to act on all family trusts to ensure that the decisions made are objectively...
by VDT Attorneys | Feb 4, 2026 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Beneficial Ownership, Companies, SARS
A regular review of the trust deed, the trustees and the beneficiaries of the trust is a crucial element in ensuring the trust’s compliance. Poorly drafted trust deeds can limit the trustees’ powers, with tragic and unnecessary long-term consequences for the...
by VDT Attorneys | Sep 4, 2025 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Estate Planning, Tax, Tax Advice, Wills and estates
Estate planning does not operate in a vacuum. It is shaped by tax policy, political pressures, and economic realities. Recent developments in South Africa illustrate how quickly the landscape can change. For example, although the government rejected new...
by VDT Attorneys | Jul 16, 2025 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Capital Gains Tax, Heirs, Trusts
Before recent amendments, having a non-resident beneficiary in a South African trust did not have major implications for the trust. If you have a South African trust and wish to add a non-resident beneficiary, such as a child who has moved abroad and is now a tax...
by VDT Attorneys | Apr 10, 2025 | Accountable Institutions, AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Grey listing, Trust
The new developments include QR codes on all new Letters of Authority issued by the Master’s Office. While it may seem like a minor change, it is a big step forward in ensuring the authenticity and validity of all Letters of Authority. The QR code will allow banks,...
