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

  • Income Tax – Registration for Trusts must be completed at a Branch with the relevant supporting documents. 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 – Donations tax is levied at a flat rate of 20% on the cumulative value of property donated not exceeding R30 million, 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 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: 08/05/2020 4:05 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.

How do I get a Notice of Registration?
The Notice of Registration for Individuals (IT150) can be obtained via different channels: •SARS MobiApp ◦On the Landing page tap on My Services. This will display the My Services page. ◦Tap on the eNotice of Registration (IT150) option.