Overview

In this workshop the taxes arising at and after the date of death of a person will be dealt with. A liquidation and distribution account will be used as the basis for the seminar. The taxes covered will specifically include the normal tax liability at the date of death; the normal tax liability arising after death when income accrues to, or assets are realised by, the executor; and the estate duty payable.

It will also include the estate duty payable, and the property included in the estate which includes: property outside the RSA; limited interests in property; shares held by the deceased in companies not listed on an exchange; a buy and sell agreement and the related domestic policy thereto; interests in retirement funds; and property that accrues to, or will be acquired by, the surviving spouse.

Course Content

Normal tax issues
• The last return of income of the deceased and capital gains at date of death.
• Assets acquired by the surviving spouse and the treatment of accrual claims.
• The taxation of income and capital gains after date of death in the estate of a deceased person.
• Dealing with income after date of death where the marriage was in community of property.
• Deceased not a resident of the RSA at time of death.
• The tax consequences of the waiver of debt at the date of death.
• The taxation of lump sums from retirement funds.
• When does the estate of the deceased person cease to be a taxpayer?

Estate duty
• The format for the calculation of estate duty revisited.
• Property in the estate.
• Property deemed to be property in the estate.
• Deceased was married at the date of death.
• Deductions.
• Valuation of property in the estate.
• Donations tax issues and what happens to the deemed donations, under section 7C of the Income Act.
• The REV267, assessment by SARS, the increase in the estate duty rate and when the estate duty must be paid and by whom.

Presenter:

Piet Nel – CA (SA)

Costs:

Practical Workshop:
SAIT members: R1 295
Other members: R1 595
Printed notes: R50

Practical Workshop Webinar:
SAIT members: R480
Other members: R575
Company Price: R950

CPD

Practical Workshop:
5.5 hours verifiable output Tax CPD

Practical Workshop Webinar:
4 hours verifiable output Tax CPD

Dates:

9 Oct | Kempton Park
10 Oct | Johannesburg
11 Oct | Pretoria
15 Oct | Durban
16 Oct | Cape Town
17 Oct | Port Elizabeth
28 Oct | Webinar part 1
6 Nov | Webinar – part 2

Workshop Times: 
08:00 – 13:30

Webinar Times: 
15:00 – 17:00

CPD Subscribers:
50% Discount for all 2019 CPD subscribers for the Practical Workshop.
100% Discount for all 2019 CPD subscribers for the Webinar.