The Trust Accounting & Tax Self-Study Package allows you to gain knowledge on this topic in your own time.

This package includes 4 comprehensive self-study courses providing the learner the opportunity to study this subject at their own pace.

The following self-study courses are included in this package:

Module 1: Attorney Trust Accounts

• What does an attorney practice do?
• What financial statement line items would apply to an attorney?
• What types of legal matters could occur?
• What makes an attorney business special?
• How does a trust account fit into the business?
• Understanding accrual VS cash basis of accounting
• Identifying the basic transactions that flow in and out of a trust account
• What the law (Legal Practice Act) has to say about trust accounts (high level)
• What your goal is when auditing a trust account

Module 2: Trusts & Income Taxes

• Brief overview of the incorporation of a trust and the responsibilities of trustees (this discussion will not be a full coverage of all the legal requirements for establishing or managing a trust)
• Income tax and capital gains tax:
  • Applicable to the trust (resident and foreign)
  • Attribution and anti-avoidance rules, including a discussion of Section 7C and loans with trusts
  • Applicable to beneficiaries (resident and non-resident)
• Administrative provisions for tax returns

Module 3: Trusts & S7C Update

• When does it apply
• What are preference shares?
• How to calculate the consequences
• What are the reporting requirements
• How is this practically done?

Module 4: Trust Accounting & Tax

• Trust Law 101
• The Income Tax Act and Trusts
• Trust administration, setting up a lawful Trust
• Roles, responsibilities of the trust founder & beneficiaries
• Terminating a Trust - what you need to know
• The deceased estate administration process
• Trusts and deceased estates – Accounting & Tax treatment

All Included:

• Video presented courses
• Downloadable course material
• Certificate of training
• Optional assessments
• SAICA, SAIBA, ACCA, IACSA, IRBA, SAIT Accredited - 16 verifiable CPD hours (4 per session)