Navigating the amendments to the Trust Property Control Act: Beneficial ownerships in South Africa

The Trust Property Control Act, a key piece of legislation governing South Africa’s trusts, recently underwent a substantial transformation with the passage of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act. This regulatory overhaul was aimed at strengthening the country’s trust governance, a direct response to its greylisting status, and has significant […]

New legislation for marriages on the way

Being a person’s spouse could have varying tax consequences, particularly where they are married in community of property. Currently, for income tax purposes, you are deemed to be a person’s spouse in the following instances: (a)  A person who is in a marriage or customary union recognised in terms of the laws of the Republic;  (b)  A person who […]