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Discretionary trusts and section 7 (5) of the Income Tax Act
Discretionary Trusts have fast become a very popular vehicle in all types of business transactions, due to their extremely flexible nature and the lack of formalities required in their day to day administration. However, largely for the above reasons, there are in my submission a great many question...
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| Format: | Thesis |
| Language: | English |
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Department of Commercial Law
2023
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| _version_ | 1867613294269825024 |
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| access_status_str | Open Access |
| author | Place, C |
| author_browse | Place, C |
| author_facet | Place, C |
| author_sort | Place, C |
| collection | Thesis |
| description | Discretionary Trusts have fast become a very popular vehicle in all types of business transactions, due to their extremely flexible nature and the lack of formalities required in their day to day administration. However, largely for the above reasons, there are in my submission a great many questions arising from their existence, the answers to which are not always clear. Discretionary Trusts are furthermore, because of their inherent flexibility excellent vehicles for abuse, particularly in the form of tax avoidance. The purpose of this dissertation is to consider the Application of Section 7(5) of the Income Tax Act to a Discretionary Trust, and to attempt to answer what has been described as "the vexed question" of whether the exercise of a Trustee's discretion in a Discretionary Trust constitutes an "event" within the meaning ,of that Section. In addition I have given consideration as to whether "vesting' is a requirement of the operation of Section 7(5). |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/38707 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:33:51.607Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | Department of Commercial Law |
| publisherStr | Department of Commercial Law |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/38707 Discretionary trusts and section 7 (5) of the Income Tax Act Place, C law Discretionary Trusts have fast become a very popular vehicle in all types of business transactions, due to their extremely flexible nature and the lack of formalities required in their day to day administration. However, largely for the above reasons, there are in my submission a great many questions arising from their existence, the answers to which are not always clear. Discretionary Trusts are furthermore, because of their inherent flexibility excellent vehicles for abuse, particularly in the form of tax avoidance. The purpose of this dissertation is to consider the Application of Section 7(5) of the Income Tax Act to a Discretionary Trust, and to attempt to answer what has been described as "the vexed question" of whether the exercise of a Trustee's discretion in a Discretionary Trust constitutes an "event" within the meaning ,of that Section. In addition I have given consideration as to whether "vesting' is a requirement of the operation of Section 7(5). 2023-09-16T09:21:16Z 2023-09-16T09:21:16Z 1996 2023-09-16T09:20:31Z Master Thesis Masters LLM http://hdl.handle.net/11427/38707 eng application/pdf Department of Commercial Law Faculty of Law |
| spellingShingle | law Place, C Discretionary trusts and section 7 (5) of the Income Tax Act |
| thesis_degree_str | Master's |
| title | Discretionary trusts and section 7 (5) of the Income Tax Act |
| title_full | Discretionary trusts and section 7 (5) of the Income Tax Act |
| title_fullStr | Discretionary trusts and section 7 (5) of the Income Tax Act |
| title_full_unstemmed | Discretionary trusts and section 7 (5) of the Income Tax Act |
| title_short | Discretionary trusts and section 7 (5) of the Income Tax Act |
| title_sort | discretionary trusts and section 7 5 of the income tax act |
| topic | law |
| url | http://hdl.handle.net/11427/38707 |
| work_keys_str_mv | AT placec discretionarytrustsandsection75oftheincometaxact |