Trusts

Private Clients and Family Wealth

Helping you preserve and protect your family wealth

Despite the many legislative changes to the taxation of trusts in recent years, they continue to offer a flexible, tax-efficient structure to preserve and protect family wealth. Trusts therefore remain an important part of asset protection planning, as well as wealth planning.

Trusts can be used in many ways for both intergenerational wealth planning and family offices. They provide a structure that enables you to reduce the value of your own estate, without an immediate charge to tax. However, the use of trusts, as well as the type of trust chosen, is dependent on your personal needs and circumstances.

RSM’s trust experts have in-depth knowledge of the most efficient uses for trusts and their structure, including the tax implications and ongoing administration requirements. They will work with you on a detailed analysis of your needs to ensure that the trust continues to meet your objectives for your own and your family’s wealth.
Our trust service offering includes:

Structuring and Formation

Drafting of the trust deed to meet the objectives of the planner and the requirements of the Master of the High Court.

Auditor or Accounting Officer

As part of the registration process of a trust, the Master of the High Court normally requires the appointment of an auditor or accounting officer. We are able to act as either of these, offering a full range of accounting services from bookkeeping to the annual financial statements. Where required, we can also perform a statutory audit of a trust’s financial statements or any other appropriate review or compilation.

Taxation

We will attend to the registration of a trust for income tax with the South African Revenue Service. We provide a complete taxation service for trusts, including:

Tax advice in respect of the appropriate treatment of transactions
Completion and submission of annual tax returns.
Completion and submission of provisional tax returns.
Consulting on all tax matters including international taxation implications.
Corresponding with South African Revenue Service as regards to queries and objections.
Offshore trusts

Our trust specialists will regularly conduct reviews to make sure your trust is managed tax-efficiently. RSM can assist you in the efficient administration of trusts, both locally and offshore, for families, business or special purpose trusts.