How To Register A Trust

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Registering equally a Trust

A trust must register with SARS for the taxes that it may be liable for.

How to register for the following taxes

Income Taxation – Registration for Trusts can at present exist done in the following ways:
- Online on this website via the Send us an Online Query system, where you tin submit the request, the trust supporting documents every bit well every bit the IT77TR – Application for registration of a trust form.
- With an engagement, via the co-operative with the relevant supporting documents.

Note – In one case a trust is registered for Income Tax, the trustee will be required to annually submit an Income Taxation Return for the Trust.

Conditional Tax – The trust must apply for registration within 21 business concern days of becoming liable for Conditional Taxation.
Payroll Taxes –
- Employees' Taxation [Pay-As-You-Earn (PAYE)] –The trust must use for registration as an employer within 21 business days of becoming an employer.
- Skills Development Levy (SDL) – Payable at 1% of the total corporeality paid in salaries to employees (including overtime payments, leave pay, bonuses, commissions and lump sum payments).
- Unemployment Insurance Fund (UIF) – Payable at 1% of remuneration paid or payable during the calendar month.
Value-Added Tax (VAT) – The trust must register if an enterprise has taxable supplies, appurtenances or services subject area to VAT – in excess of R1 million in any consecutive 12 calendar month menses. A trust making taxable supplies of less than R1 million may voluntarily apply to register for VAT.

A trust may as well be liable for the post-obit taxes:

Donations Tax – Donations taxation is levied at a flat charge per unit of twenty% on the cumulative value of property donated not exceeding R30 meg, and at a rate of 25% on the cumulative value exceeding R30 million (sections 54 to 64 of the Income Tax Act, 1962).
Transfer Duty – Payable on a sliding scale based on the value of the property transferred.
Securities Transfer Taxation (STT) – Levied on the transfer of a security at 0,25% of the taxable corporeality of the security.

Top Tip: A trust may be eligible to register as a Taxation Exempt System if certain requirements are met. Refer to Department 10(i)(northwardC) and Department 30 of the ITA.

Need help?

Read more than on the types of trusts
Read more on how to complete the ITR12T
Phone call the SARS Contact Centre on 0800 00 SARS (7277)
Visit your nearest SARS branch.

Frequently Asked Questions

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