TRUSTS – TAXATION LAWS AMENDMENTS BILL 2017

At the time of the Medium-Term Budget Statement minister Gigaba also signed the Taxation Laws Amendments Bill 2017, which gives effect to various bits of legislation, one of which is the issue surrounding interest free or low interest loan accounts to trusts. Many commentators have stated that the wording is incorrect and could give rise to unintended consequences. We will keep you informed of developments in this regard. Should you have any queries in this regard please do not hesitate to contact us.