The South African Revenue Service has published a draft update to the interpretation note (IN) on the definition of a "connected person" for income tax purposes. The Draft IN 67 (Issue 3) updates the previous version to take account of legislative amendments and also includes a discussion regarding connected persons in relation to deceased estates and insolvent estates. The definition of "connected person" identifies connected persons in relation to different types of persons, namely: Natural persons; Trusts; Connected persons in relation to a trust; Members of partnerships or foreign partnerships; and Companies and close corporations. The definition also establishes the...