Many of us, especially those who have a significant number of assets and want some form of protection, have created Trusts over the years to benefit and administer our estates in such a way to minimise risk and as a consequence of common law and legislation, draw on the tax benefit it offers.
 
At the beginning of the year, the presidency signed into law the Taxation Laws Amendment Act, No. 15 of 2016, noted in the government gazette number 40562 on 19 January 2017 (the “Act”) which will change estate planning and how trusts are used.

POPI was signed into law by the President on 19 November 2013. Only certain parts of the Act have since come into operation, mostly the parts dealing with the establishment of the Information Regulator which, when the Act comes fully into operation, will be the governing body that will deal with any or all complaints in connection with personal information. The Act is expected to come into full operation within 12 months, being middle to end of 2017.