Tax changes dull trusts' sparkle
Friday, July 17, 2020
Most wealthy parents used to make use of this vehicle, as an estate planning mechanism and it would legally suppress Capital Gains Tax and Donations & Inheritance Tax on inheritances.
Private trusts are vehicles which are created mainly to house property on behalf of heirs with the main benefit of facilitating smooth and tax-free transfers to heirs.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....