Is your Trust ready for the new Section 7C?

President Jacob Zuma has signed The Taxations Laws Amendment Bill (TLAB) into law on 11 January 2017. The TLAB will be implemented effectively from 1 March 2017. A new section, Section 7C, has also been introduced. This section specifically deals with Interest Free or Low Interest Loans to Trusts. SUMMARY OF SECTION 7C: The section applies to any loan, advance […]