n Tax Breaks Newsletter - Trusts and tax planning : an unmitigated disaster : trusts
|Article Title||Trusts and tax planning : an unmitigated disaster : trusts|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Jan 2011|
|Pages||5 - 7|
Wealth normally buys expert tax planning. But not in the case of the taxpayer in ITC 1840 (2009) 72 SATC 79 where the monumental blunders of the tax advisers cost the trust nearly R80 million in donations tax−which could have been totally and legitimately avoided by the addition of a few words to the trust deed, and by a few expeditious decisions when flaws in the tax plan came to light.
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