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The question whether there can ever be a recoupment by a partner to the extent that he disposes of his interest in a partnership as opposed to a partnership disposing of assets, has always been contentious. In this context it was always contended by taxpayers that there cannot be a recoupment to the extent that a partner disposes of a partnership interest, even though a partnership is not a separate legal entity and income that has accrued to partners in common is deemed to have accrued to each

The most significant proposals in the 2018 Budget Review will probably affect all taxpayers in South Africa, not only those with accumulated wealth.

The value of a usufruct (which is the right to use property and enjoy it's profits without directly owning it) is often needed to be calculated for purposes of taxes.

A person nominated to receive an inheritance, whether in a will or by virtue of the laws of intestate succession, may choose to either adiate or repudiate that inheritance.

A far-reaching judgment was recently given by the Cape Tax Court dealing with the fiscal consequences of a taxpayer acquiring a so-called living annuity. In particular, the taxpayer invested an amount of approximately R6million into a life annuity which gave him an initial guaranteed income of approximately R42 000 per month. These amounts could be revised annually at the insistence of the taxpayer, subject to the taxpayer being limited to directing the insurer to pay amounts equal to not less

The Davis Tax Committee ("DTC") released its much-anticipated second (and final) interim report (the "Report") on estate duty on 24 August 2016.

In recent years, a popular way of saving tax was for a private residence to be held by a company or trust.

South Africa has entered into a number of Agreements for the Prevention of Double Taxation ("DTA’s") with other states which contain an exchange of information clause.

In the case ITC 1835 the Tax Court in Kimberley deliberated on whether a debt due to a deceased estate had been discharged for no financial consideration and was therefore subject to Capital Gains Tax (CGT) on the full value of the claim in terms of paragraph 12(5) of the Eighth Schedule to the Income Tax Act.

Estate planning extends far beyond drafting a valid Will. This article examines the critical but often overlooked issue of estate liquidity—the availability of cash to settle taxes, debts, and administration costs—and explains why asset-rich estates can still face serious financial challenges during administration.

The Convention on Mutual Administrative Assistance in Tax Matters was published in the Government Gazette.

Estate Duty – Estate duty is payable at the rate of 20% of the net value of assets in the estate in excess of the sum of R3 500 000,00.

Since our readmission to the international community South Africa has set about developing one of the largest networks of double tax treaties in the world.

We previously commented on the recommendations made by the Davis Tax Committee relating to the taxation of trusts in our article entitled "Taxation of trusts to be revisited?" dated 28 July 2015.

The Davis Tax Committee's First Interim Report on Estate Duty was released for public comment on 13 July 2015.

In our previous article, we commented on the importance of an individual who ceases to be ordinarily resident in South Africa being able to substantiate factually a clear intention to leave South Africa permanently and thereby to "break" ordinary residency in South Africa.