Income distributions to non-resident beneficiaries may be taxed twice
An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.
capital gains
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Sars has its eye on the application of attribution rules in trusts
Trusts that have failed to comply with the rules are exposed to penalties and fines.
This is what Sars is doing to tighten its supervision of trusts
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.
Discussion document coming on tax treatment of collective investment schemes
National Treasury will publish a discussion document dealing with the tax treatment of collective investment schemes’ trading profits before proposing amendments to the Income Tax Act, the 2022 Budget Review says. CIS distributions […]
