Page 49 - Q&A.indd

It can be noted that natural persons are not precluded from employing
the annual donations tax exemption of R100,000.00 to a donation to
the trust. Should an individual therefore make a donation to their trust of
R100,000.00 or less, section 7C will not be applicable and no interest will
be deemed to have accrued to the particular individual. The aforesaid
amount will not be owed by the trust to the individual in terms of a
loan and no interest will be incurred by the trust. An interest free loan
of R1,250,000.00 may therefore still be made by connected persons to
their trusts, since at an interest rate of 8%, this amount will attract interest
of R100,000.00, which in terms of the above mentioned exemption will
preclude liability to pay donations tax. Commercial

It is clear that section 7C will impact dramatically on the effectiveness
of using a trust as a vehicle for estate and tax planning purposes. It may
therefore be necessary for you to contact your tax specialist to assist you
in reviewing your current estate planning in the light of section 7C.
The new Cybercrimes and Cybersecurity Bill to
tackle cyber criminals

February 2017

“I receive at least 10 fake e-mails and sms’s per day telling
me I’ve won, or entered some competition or can claim some
reward. And it seems to just get worse. It feels like it’s just a
matter of time before I get caught in some scam and then I
won’t even know who to turn to for help. Surely, these criminals
can’t just have free reign to do what they want?”

A harsh reality of the world today is the growing international threat
(and industry) of cybercrime. Cyber criminals have become highly
sophisticated with mechanisms, platforms and scams that are targeted
and very difficult for an ordinary user to spot. Our world revolves around
information technology and it is our dependence thereon which is
targeted by cyber criminals.

To date, our legal framework regulating cybercrimes has consisted of
various pieces of legislation as well as our common law. Unfortunately,
such fall short of effectively regulating the complex world of cybercrime,
necessitating the need for a consolidated framework to address
cybersecurity and criminalise cybercrimes.
The proposed Cybercrimes and Cybersecurity Bill (“Cybercrimes
Bill”) has accordingly been introduced to assist in providing such a
framework for combatting computer-related crimes and improving the

43