Tax changes dull trusts' sparkle

Skills sharing: Hore
Skills sharing: Hore

Private trusts used to be one of the best ways of planning for the smooth transfer of, in particular, immovable property from late parents to heirs.

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.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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