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Monthly Accountants Tech Talk: Discussing Trusts


Date: May 30, 2022 - May 30, 2022

CPD hours: 3 Hours

Time: 09:00 - 12:00

Event Type: Webinar

Presenter: Caryn Maitland
Owner, Maitland & Associates
Presenter: Carmen Westermeyer

Trusts are dynamic and evolving entities that are constantly changing. They have traditionally been used because they offer flexibility and minimal compliance requirements. In the past, trustees could pretty much dictate terms as the Master had minimal oversight of the operations of the Trust.

Overview   

Trusts are dynamic and evolving entities that are constantly changing. They have traditionally been used because they offer flexibility and minimal compliance requirements. In the past, trustees could pretty much dictate terms as the Master had minimal oversight of the operations of the Trust.  

Those days are gone – for several reasons. Firstly, beneficiaries are far more aware of their rights than they used be. Secondly, the introduction of section 7C has put a spotlight on beneficiary distributions and highlighted multiple different interpretations. As such we need to keep our fingers on the pulse and continually review the position of trusts. 

This webinar is part of a series called Monthly Accountants Tech Talk where Caryn Maitland CA(SA) and Carmen Westermeyer CA(SA) hold a live discussion with the aim of resolving current issues that have been raised by accountants and auditors as requiring attention. If you are interested in subscribing to the series, click here for more information. Join Caryn and Carmen on 30 May 2022 from 9:00 a.m. to 12:00 p.m. as they discuss trusts and what you need to be aware of as an accountant. 


Learning objectives and competencies developed 

By attending this webinar you will develop the following competencies:  

  • Maintain your professional competence by keeping up-to-date with recent developments regarding trusts. 

  • Practically apply your knowledge of different pieces of legislation that affect trusts.  

  • Have sound knowledge of the roles of trustees, beneficiaries as well as your role in the operation of a trust.  

  • Be competent in giving advice to your clients regarding how to set up and run a trust.  

  • Understand how to account for trusts as well as the taxation aspects as per SARS requirements. 


Content 

The webinar will cover the following topics:  

  • Are trusts still relevant? 

  • The function of a trust. 

  • The Trust Property Control Act. 

  • Administration of a trust. 

  • Section 7C and other anti-avoidance provisions. 

  • The roles of the trustees, beneficiaries, accountants and auditors. 

  • Loans vs Capital. 

  • Distributions - what did the beneficiaries receive?   

  • Taxation of trusts and SARS requirements. 

  • Do you have a trust? 


Obtaining your CPD certificate 

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAIBA, SAICA and SAIPA. 

  All attendees are issued with a CPD certificate available in an online profile.   


About the presenters 

Caryn Maitland CA(SA) 

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA. 

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  Caryn is also involved with the annual SAICA SMP Technical tour. 

 

Carmen Westermeyer CA(SA) 

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then. In 2008, she was appointed lecturer at UKZN and coordinated the Taxation 300 course until December 2010. She then took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme.  

In December 2012 Carmen started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the SAICA SMP training in 2014 and the FASSET Budget and Tax Update in 2015 and 2016. 


Who should attend? 

The following persons will benefit from attending this webinar: 

  • Professional accountants such as CA(SA), BAP(SA), AGA(SA), Professional Accountant (SA), FCCA, BA(SA) and ACCA. 

  • Registered auditors.  

  • Trustees and beneficiaries of trusts.  


Price              

  • Individual Booking: R500.00  

  • Company Booking: 

    • R950.00 - Group Price 1 (Maximum of 5 attendees). 

    • R1 850.00 - Group Price 2 (Maximum of 10 attendees) 

    • R2 650.00 - Group Price 3 (Maximum of 15 attendees) 

 

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 


Additional material 

By attending this webinar you will be provided with: 

  • A summarised slide presentation. 

  • Reference documents and/or course material where available. 

  • You can ask questions during the webinar and you will also have access to the presenter after the webinar. 

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Venues & Dates

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