Outsiders often assume that trustees have both the authority and the capacity to enter into transactions binding the trust. If trustees have not ensured that these requirements are met, to what extent can outsiders be deemed to have known? In the instance of companies...

The SARB is moving away from the concept of emigration. This will necessitate changes to the Income Tax Act which has references to emigration in relation to taking retirement fund amounts out of South Africa. Currently, if you formally emigrate, you are permitted to...

Often the testator or testatrix directs in his or her will that his or her assets be transferred into a trust to be formed upon his or her death. A testamentary trust is then formed upon his or her death and the terms of the last will and testament form the terms of...

A trust itself cannot sue or be sued, because it is not recognised as a legal persona, but rather a legal persona sui generis (which means of its own kind or class), in South Africa (Rosner v Lydia Swanepoel Trust case of 1998). The trustees, in their official...

Given the commitment to fiscal consolidation, tax increases of R40bn will be necessary over the next four fiscal years. Taxes are set to increase by R5bn in 2021/2022, R10bn in 2022/23 and R15bn in 2024/2025. The most effective taxes to increase would be personal...

Minister of Finance Tito Mboweni’s postponed 2020 Medium Term Budget Policy Statement (MTBPS) confirmed expectations that the mini-budget would skirt structural reforms to both bolster economic growth and create jobs. Below are 10 take-aways from yesterday’s speech: *...

Bwanya v Master of the High Court, Cape Town and Others [2020] ZAWCHC 111 The applicant (B) and R met in February 2014 and they started living together in his house in June 2014.  The undisputed evidence before the court was that R treated B as his wife.  To friends,...

It has been a volatile week on the global markets, due particularly to Tech stock taking quite a knock and vaccine trials having stumbled a bit.