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News & Press: SARS News & Tax Administration

Short guide on the new income tax return for trusts

28 October 2014   (0 Comments)
Posted by: Author: SARS
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Author: SARS

The South African Revenue Service (SARS) has introduced a modernised and fully customised Income Tax Return for Trusts (ITR12T) replacing the old IT12TR return. The new return aims to improve the experience you will have when completing it because it is interactive and fully customised as well as pre-populated with the trust’s information. Furthermore, assessment results will be available in real-time.

Please click here for a short guide on the new tax return. 


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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