SARS reminds representative taxpayers of trusts of their duty to register trusts for income tax purposes

Written on 06/02/2022
MJ Minter Inc

The representative taxpayers of trusts are the trustees of a trust, but the responsibility to submit the tax return may be conferred on a specific trustee or a tax practitioner. Currently a trust, whether active or dormant, must submit an income tax return on an annual basis . Representative taxpayers of trusts are reminded of the availability of the Voluntary Disclosure Programme (VDP) subject to the requirements thereof, should a trust not be registered for income tax purposes. The representative taxpayers of trusts or their representatives are advised to ensure that all outstanding income tax returns are submitted without delay to avoid further penalties and interest.

Should you require clarification of the tax status of your Trust please do not hesitate to contact us in this regard.