loan account
In December 2022, there were further stringent amendments made to the Trust Property Control Act, including a change in the trustees reporting and the introduction of a new definition of ‘beneficial owner’.
In respect of a typical, non-conforming business assurance policy, the premiums are not tax deductible. However, the proceeds paid from the policy will then not be taxed and the buyer will have access to the full amount required to purchase
Living trusts can be used effectively to house growth assets outside of one’s personal estate to reduce tax and estate duty liabilities, a process that is often referred to as estate pegging. For instance, if an estate planner wants to
If you intend to gift a larger amount of money to your child, it may be more effective to structure the inheritance as a loan whereby the loan account appears as an asset in your estate, thereby avoiding donations tax.
