THE INCOME TAX RETURN FOR TRUSTS (ITR12T)

 What's New?

  •  15 May 2017 - Enhancements to the Income Tax Return for a Trust (ITR12T)

As part of our commitment to maintain high levels of efficiency and compliance, SARS introduced enhancements to the Income Tax Return for Trusts from 15 May 2017.

The following are the critical changes made to the ITR12T:

    • You will no longer be allowed to claim a foreign tax credit for services rendered in South Africa which was taxed outside South Africa. However, you will be able to claim a deduction from income for services rendered in South Africa which was taxed outside of the Republic. The ITR12T is updated to cater for repealed section 6quin fields.
    • The Income Tax Act (section 11D) provides for a deduction in terms of Research and Development which is meant only for companies and has therefore been removed from the ITR12T.
    • The enhancements to the ITR12T are an extension of those implemented during Tax Season 2016:
      • The Statement of Assets and Liabilities now distinguishes between Interest Bearing and Interest Free loan accounts.
      • The sections dealing with rental and farming income have also been enhanced.

Various other changes were made including changes to the:

    • Rental Income declaration; and
    • ITA34.

Please be aware that you will not be able to change or delete any IRP5 data that has been received from a third party and pre-populated on the return.

If you notice any incorrect pre-populated information on the return, you are advised to contact the employer or service provider in order for them to rectify it as you will not be able to change or delete any IRP5 data received from a third party.

Pre-populated information received from a third party may have been changed or updated and in order for this information to pre-populate, you will have to click ‘Refresh’ to continue.

Top Tip: An example of the new ITR12T form is available.

Top tip: It is crucial that SARS has the correct and up-to-date taxpayer information. When completing the ITR12T return, the first question under 'Trust Details' is Have the banking, contact and trustee details of the trust been verified and confirmed as correct?’ If you answer NO’ to this question, you will not be able to submit the ITR12T return until these details of the trust have been verified and confirmed as correct.

The existing taxpayer information on eFiling can be viewed by clicking ‘Legal Entity Profile’. If you have power of attorney over the trust, you can also visit your nearest SARS branch if you need to update details.

Top tip: While completing the ITR12T please click ‘Save’ regularly so that you don’t lose any information you have already captured in the event that SARS eFiling times out. 

For more information, please consult the updated Complete the ITR12T webpage, the Step-by-Step Guide to complete your ITR12T via eFiling and the Comprehensive Guide to the ITR12 for Trusts .

Please remember that we no longer accept Trust returns (ITR12T) via post.

  • 12 December 2016 - Further enhancements to the Income Tax Return for Companies (ITR14)
SARS introduced enhancements to the Income Tax Return for Companies (ITR14) on 9 December 2016. Read more.
 

What is it?

The Income Tax Return for Trusts is called the Income Tax Return for Trust (ITR12T). 

When did it come into effect?

The updated form (ITR12T) is available from 12 October 2015.

How will I get the ITR12T?

The form (ITR12T) is available on eFiling or may be captured at a SARS branch on behalf of the representative/Tax Practitioner of the trust (see section on “How to submit the ITR12T”).
 
An example of the ITR12T is available for downloading. Should you visit a SARS branch for capturing, you’ll need to fill it in before going to the branch. For more information on how to complete ITR12T, click here.
 
Top Tip: Asking for the ITR12T to be posted to you will no longer be an option and trust returns received via post will be rejected. 
 

How to submit the ITR12T?

A trust ITR12T return can be submitted through any of the following channels:

  • Complete and submit an ITR12T electronically on eFiling
  • Visit the nearest SARS branch for capturing of the ITR12T on the SARS system.

Any trust which had made taxable amounts distributed to / vested in more than 10 beneficiaries at any time during the year of assessment (YOA) must register and submit the ITR12T via eFiling

Any trust which had made taxable amounts distributed to/vested in less than 10 beneficiaries may register and submit the ITR12T via eFiling. However, if the trusts in the latter case are not registered, the representative/Tax practitioner must visit a SARS branch to have the return captured.

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Last Updated: 17/05/2017 1:40 PM     print this page
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 Top FAQs

​​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.

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.

What are the channels to submit my ITR12T return?
You can submit your ITR12T return via one of the following channels:- eFiling if you are a registered eFiler. :-The drop boxes at the SARS branches where the completed return can

What supporting documents are required for the number of persons to whom donations/contributions/loans were made?
SARS will advise in the letter issued to the taxpayer which supporting documents are required for verification by SARS. As a guideline SARS will request documents that prove the validity of these transactions, but there is no specific