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Author Archives: StrachanCrouse
The role of your child’s guardian
Choosing a guardian for your children is a huge decision to make and takes careful consideration. If you have minor children, it is always advisable to nominate a guardian in your will who will love and care for your children … Continue reading
Posted in Will
Tagged Children’s Act, financial planning, legal guardian
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Choose your trustees carefully
Many people who agree to take on the role of trustee are not fully aware of their duties and obligations, nor the extent to which they can personally be held liable. When setting up your trust, whether through a trust … Continue reading
Posted in Trusts
Tagged inter vivos trust, testamentary trust, Trustees
Comments Off on Choose your trustees carefully
Exemption of foreign pensions in South Africa
Although there has been an increasing trend in recent times of emigrations from South Africa, there are many projects by the Department of Home Affairs to market South Africa as a friendly retirement destination for foreigners. The question, therefore, often … Continue reading
Posted in Tax
Tagged Department of Home Affairs, Income Tax Act, SARS
Comments Off on Exemption of foreign pensions in South Africa
Beware of scams during filing season
In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data records were compromised. This data leakage, coupled with the tax filing season, makes for the perfect opportunity for taxpayers’ information to be abused, subjecting taxpayers to potential financial loss. Scammers thrive on the inherent vulnerability … Continue reading
Employer reconciliation, third party declaration period opens
The interim employer reconciliation and third party declaration period is now open, the South African Revenue Service (Sars) said on Tuesday. On the Covid-19 Tax Relief Measures announced by the Minister of Finance earlier this year, Sars said this provided … Continue reading
Posted in Tax
Tagged Disaster Management Tax Relief Administration Bill, SARS, Unemployment Insurance Fund
Comments Off on Employer reconciliation, third party declaration period opens
Steps to take before drafting a will
Drafting a will requires the drafter to give careful thought to a number of important issues. If you’ve taken the wise step to consult with an expert to have your will professionally drafted, be sure to prepare yourself adequately for … Continue reading
Posted in Will
Tagged Executor, Liabilities, Trust
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Business rescue VS liquidation: What is the difference?
South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium … Continue reading
Posted in Commercial Law
Tagged Companies Act, liquidator, rescue plan
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Wills, trusts and deceased estates: Your questions answered
Estate planning and the winding up of deceased estates can be complicated areas to navigate. In this article we provide answers to some frequently asked questions about wills, trusts and deceased estates: When and where must a deceased estate be … Continue reading
Posted in Will
Tagged Administration of Estates Act, Deceased estates, Trust Property Control Act
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What you need to know about tax and work travel allowance in South Africa during Covid-19
Covid-19 has far-reaching effects for the South African taxpayer and, unbeknown to many, may be silently increasing their tax liability for the 2021 year of assessment. There is a causal link between travel allowances (and the same applies to company … Continue reading
Posted in Tax
Tagged COVID-19, South Africa, Tax, Travel
Comments Off on What you need to know about tax and work travel allowance in South Africa during Covid-19
Viewpoint: Deemed disposal at death
Section 9HA of the Income Tax Act is a deemed disposal rule for deceased persons is effective from 1 March 2016 and is applicable in respect of a person who dies on or after that date Section 9HA of the … Continue reading
Posted in Estate Planning, Trusts, Will
Tagged Deceased estates, Estate Planning, Income Tax Act
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