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Three’s a crowd? SARS, Trusts and Beneficial Ownership

22 April 2024,  Dr Candice ReyndersElani van Coller

The General Laws Amendment Act 22 of 2022 (“Amendment Act”) promulgated as part of legislative framework changes by South Africa... to curb money laundering, has introduced key changes to the trust environment, requiring extensive beneficial ownership and other reporting by trusts. SARS is also aligning its tax and data collection imperative with these changes by requiring similar reporting as part of trust tax submissions. In this article, we review the impact of these changes on trusts.

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Article
New CIPC changes for the filing of annual returns

15 January 2024,  Elani van Coller

CIPC has again announced changes to the CIPC system for the filing of annual returns and beneficial ownership information, which... introduces mandatory obligations for companies and close corporations when filing their annual returns. 

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944
Article
Trustees take note – new platform for your trust Beneficial Ownership reporting

06 November 2023,  Elani van Coller

This October, the Acting Chief Master signed a directive introducing the new electronic platform for reporting Beneficial Ownership information at... the Master following concerns raised about the previously used Google Forms document for providing Beneficial Ownership information to the Master. This new electronic platform will now have to be used for all Beneficial Ownership reporting by trustees. In this article, we take a look at the new platform as well as some of the other aspects flowing from the directive. 

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482
Article
Estate Planning – a necessary tool in uncertain times

06 November 2023,  André van Niekerk

The last number of years have seen the world go through dramatic changes, pandemics, environmental upheavals, wars, financial volatility and... massive political uncertainty affecting every individual and country in one way or another. South Africans have not been spared with loadshedding, escalating fuel prices and rising inflation further adding to the uncertainty. This makes it feel as if planning for the future is pointless and all you can really do is survive the now. In this article we discuss why this could be a dangerous strategy.

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432
Article
New registration requirements for non-profit organisations

13 June 2023,  Hadiyo Mathoka

How does the recently passed General Laws (Anti-money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”)... affect the proposed Nonprofit Organisation Amendment Bill of 2021 (“NPO Bill”) and what does it mean for non-profit organisations (“NPOs”)?

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