REGISTERING AS A TRUST

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

How to register for the following taxes

Top Tip: The way you register for tax & customs and update your existing details has changed from 12 May 2014. For more information, click here for more
 
  • Income Tax – To register for Income Tax, complete an IT77TR – (Application for Registration as a Trust and Change in Particulars Trust). Once a trust is registered for Income Tax, the trustee will be required to annually send an Income Tax Return for the Trust.
  • Provisional Tax – The trust must apply for registration within 21 business days of becoming liable for Provisional Tax.
  • Payroll Taxes –
  • Value-Added Tax (VAT) – The trust must register if an enterprise has taxable supplies, goods or services subject to VAT – of more than R1 million are made in any 12 month consecutive period. A trust making taxable supplies of less than R1 million may register voluntarily.
 
A trust may also be liable for the following taxes:
 
  • Donations Tax – Payable at 20% on the value of any gratuitous disposal of property.
  • Transfer Duty – Payable at a sliding scale on the value of property transferred.
  • Securities Transfer Tax (STT) – Levied on the transfer of a security at 0,25% of the taxable amount of the security.
 
Top Tip: A trust may be eligible to register as a Tax Exempt Organisation on condition that certain requirements are met.
 

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Last Updated: 04/12/2014 3:00 PM     print this page
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 Top FAQs

How will I be kept up to date of any new registrations or changes made to the registered particulars?
New registrations or changes made on the profile will be communicated in the following manner: An SMS will be sent to: oThe registered taxpayer oThe registered representative.

​​How is income on a trust taxed?
A trust is taxed at 40%, but a special trust is taxed at a sliding scale from 18% to 40%. A Special ‘Type A Trust’ should apply at the SARS branch for classification as it qualifies for certain relief from Capital Gains Tax.

How do I get a Notice of Registration?
The following Notices of Registration will no longer be issued: IT150 – Notice of Registration [Personal and Corporate Income Tax (CIT)] VAT 103 – Notice of Registration [Value-Added Tax (VAT)] EMP103 – Notice of Registration (Payroll Taxes).