Tag: trust
-
Do actions speak louder than words in the business world?
It’s one thing to claim your company is customer-orientated, but talk can be cheap regarding what matters most to your business. The businesses that serve their customers effectively don’t proclaim it on bold billboards; they prove it through offering efficient advice, paying consistent attention to detail, and delivering long-term quality results. These tangible actions create…
-
Can losses be distributed out of a trust?
On 18 March 2021, the Supreme Court of Appeal delivered judgment in the case of Massmart Holdings Limited v The Commissioner for the South African Revenue Service. The case dealt with losses which were incurred within the broader Massmart group in respect of the investing of equity instruments as part of an employee share incentive…
-
Belastingbeplanning: Minder ja, maar nie niks nie
Belastingbeplanning is noodsaaklik om te verseker dat jou welverdiende Rande, binne alle wette en regulasies van die Suid-Afrikaanse Inkomstediens en die Inkomstebelastingwet, te rek vir die nabye toekoms maar ook vir jou goue jare. Dit is ‘n gegewe dat almal iewers belasting sal betaal, ongeag hoe haarfyn jou beplanning is. Daar is ‘n diverse verskeidenheid…
-
Is there tax on gift cards?
The Cape Town Tax Court delivered a judgement on 17 April 2019 on the timing of income tax in relation to gift cards issued by a retailer.[1] Here, the taxpayer “sold” gift cards to its customers to be redeemed at any of the taxpayer’s stores. The question under consideration was whether the revenue from the…
-
The importance of the independent trustee
A well-known court case, Land Bank of South Africa vs. JL Parker and Two Others (the Parker case) irrevocably changed the requirements for independent trustees to be appointed and placed renewed focus on the duties and responsibilities of all trustees. As a result of the Parker case, most Masters of the High Court now require…