BrightRock Life Insurance Examines Recent Tax Reforms and Their Effect on Trust Structures Question of Trust
South African Minister of Finance, Pravin Gordhan, stressed in his budget announcement in February that trusts have been used to “hide” the assets of high net worth individuals and reduce their estate duty liability. The reforms will also target the misuse of the flow-through principle, where capital gains and income are passed onto beneficiaries to cash in on the lower tax rates applicable to individuals in certain circumstances. The market is still waiting to see exactly how these proposed reforms...
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