Page 66 - Bespoke EPG 2017 Digital

■■ Other assets
◆◆ Timeshare certificates
◆◆ Loan account in an inter vivos trust
◆◆ Acknowledgement of debt in estate planner’s favour
◆◆ Details of any usufruct or fideicommissum interest

■■ Liabilities
◆◆ A list of all liabilities
◆◆ List bank and branch details, account numbers and monthly payments
◆◆ Full names, addresses and telephone numbers of creditors

■■ The living Will (if there is one)

DAVIS TAX COMMITTEE

The Davis Tax Committee has been established to evaluate tax policy and
legislation in South Africa and to make recommendations to the legislator
regarding possible amendments and other related changes.
To date the Davis Tax Committee has made recommendations that will be
considered by the legislator and might in future be incorporated into the
legislation include the following:
■■ The estate duty deduction for assets bequeathed to the surviving spouse to

be deleted.
■■ The estate duty rebate to be increased to R15m
■■ The estate duty rate is to be increased to 25% to the extent that the net value

of the estate is more than R30m
■■ The capital gains tax exclusion for assets bequeathed to the surviving spouse

to be deleted and to the exclusion upon death to be increased to R1m
■■ Donation tax exemption for donations between spouses to be deleted where

it does not relate to reasonable maintenance.
■■ The Trust distribution flow through principle to be limited.
■■ Tax avoidance and foreign trust to be investigated

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