by VDT Attorneys | Apr 20, 2026 | Anti-Money Laundering, Anti-money Laundering Amendment Act, Trust, Trust compliance, Trust penalties
To improve compliance, a notice was published in the Government Gazette No. 54417 on 27 March 2026. This notice confirms that SARS will no longer tolerate non-compliance with the submission of trust tax returns (ITR12T) for the 2024/2025 assessment period. This action...
by VDT Attorneys | Apr 20, 2026 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Beneficial Ownership, Is your family trust SARS-proof, Trust compliance
The role of Independent TrusteesOver the past few years, SARS has raised the issue that the trusts are not administered independently by the trustees. An independent trustee is required to act on all family trusts to ensure that the decisions made are objectively...
by VDT Attorneys | Apr 20, 2026 | Donations Tax, Estate Planning, Making the most of the new donations tax threshold
Why donations tax matters in Estate Planning Under South African tax law, donations tax applies to gratuitous transfers of value made during a person’s lifetime. Before the 2026 Budget, individuals could donate up to R100 000 per year tax‑free. From 2026, the...
by VDT Attorneys | Apr 20, 2026 | Budget Speech, Can and should I deregister for VAT?, VAT, VAT registration threshold
The process begins with applying for the cancellation of registration to your local SARS branch or via eFiling, clearly stating that your turnover will remain below the new threshold. SARS will confirm a final tax period and issue a cancellation notice only once all...
by VDT Attorneys | Apr 20, 2026 | Donations Tax, Donations tax exemption
Increased donations tax exemption: Greater flexibility for interest-free loans to trustsIn South African estate and trust planning, interest-free loans from individuals to trusts remain a popular funding method. An individual lends money to a trust, which uses the...
