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South Africa: Changes to income tax returns for trusts

South Africa: Changes to income tax returns for trusts

The South African Revenue Service (SARS) will implement several changes to the income tax returns for trusts (ITR12T) with respect of the assessment year ending 28 February 2017.


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Among the changes to the ITR12T are items concerning:

  • A loan, advance or credit made to a trust
  • Disclosure of transactions made with the trust
  • Details of all “learnership agreements”
  • Dividends deemed to be income (a new income type)

SARS has advised that if a 2017 return was submitted prior to implementation of these changes, none of the new fields will be required for completion.


Read a February 2018 report [PDF 96 KB] prepared by the KPMG member firm in South Africa

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