COMPLETING THE INCOME TAX RETURN FOR a TRUST (ITR12T)

 

The trustee must complete and send an Income Tax Return for the Trust annually to SARS.
 
To complete the ITR12T, the following relevant material (supporting documents) are needed:
 
  • All certificates and documents relating to income and deductions
  • Financial statements and/or administration accounts
  • Proof of payment of any tax credits
  • Particulars of assets and liabilities.
  • Details of persons/beneficiaries to whom income, capital and/or assets were distributed/vested.

Top Tip: Need a Source Code?

 
Supporting schedules needs to be filled in and sent with the ITR12T, if the trust:

Please note: A function will be available on eFiling to upload the supporting schedules.

Top Tip: The relevant material (supporting documents) used to fill in the ITR12T, must be kept for a period of five years.
 
 
The ITR12T can only be sent:
 
  • Using eFiling. If you aren’t registered for eFiling follow our simple steps. This will allow you to complete and send your ITR12T online in a secure environment 24/7.
  • At a SARS branch. Should you visit a SARS branch for assistance, you will need to fill in the fields needed before going to the branch.
 
Please note: An example of the new ITR12 is available for downloading.
 
 
Top Tip: Requesting the ITR12T to be posted will no longer be an option available to you.
 

Depending on how you send your ITR12T to SARS, be sure you know the due date. Income tax returns must be submitted within the following periods: 

  • in the case of any company, within 12 months from the date on which its financial year ends; or
  • in the case of all other persons (which include natural persons, trusts and other juristic persons, such as institutions, boards or bodies):
    • on or before 21 September 2018 if the return is submitted manually;
    • on or before 31 October 2018 if the return is submitted by using the SARS eFiling platform or electronically through the assistance of a SARS official at an office of SARS;
    • on or before 31 January 2019 if the return relates to a provisional taxpayer and is submitted by using the SARS eFiling platform; or
    • where accounts are accepted by the Commissioner in terms of section 66(13A) of the Income Tax Act in respect of the whole or portion of a taxpayer’s income, which are drawn to a date after 28 February 2018 but on or before 30 September 2018, within 6 months from the date to which such accounts are drawn.

 

 
 
Last Updated: 02/10/2018 11:35 AM     print this page
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 Top FAQs

When selecting No to the first question “Have the banking, contact and trustee details been confirmed and verified” on the Income Tax Return for Trust (ITR12T), I am unable to continue filling in the ITR12T?
The registered details of the trust must first be confirmed, in order to complete the ITR12T. To do this either:

When must an income tax reference number be filled in on the Income Tax Return for Trust (ITR12T) for a beneficiary?
An income tax reference number must be filled for a Trust/Company that is a beneficary. The income tax reference number for an individual is optional, as in some cases a tax reference number isn't available.

From which year of assessment can a trust claim any foreign tax credits in terms of section 6quin on the Income Tax Return for Trusts (ITR12T)?
A trust can only claim any foreign tax credits in terms of section 6quin from the 2012 year of assessment onwards on the ITR12T.

From which year of assessment can a trust claim any foreign tax credits refunded/discharged during the year of assessment on the Income Tax Return for Trusts (ITR12T)?
A trust can only claim any foreign tax credits refunded/discharged during the year of assessment from the 2014 year of assessment onwards on the ITR12T.

When will the income statement of the trust be needed, while completing the Income Tax Return for Trusts (ITR12T)?
The income statement of the trust will only be needed where local business income was received and must be filled in on the ITR12T.