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 | Jan 16, 2026 | Managing your trust, SARS, Tax return, Trust compliance, Trust non-compliance, Trusts
All South African trusts must be registered for income tax with SARS to submit their tax returns yearly. It is irrelevant whether a trust is active or not. SARS will do a deep dive into the trusts’ tax return submissions, and if the trust has failed to submit its tax...
by VDT Attorneys | Dec 3, 2025 | AML, Anti-Money Laundering, Beneficial Ownership, Grey listing, SARS, Trust compliance, Trustee Duties, Trusts
With South Africa’s greylisting by the Financial Action Task Force (FATF) in 2023, compliance has evolved from being a peripheral consideration to a crucial element of fiduciary planning. Understanding how compliance obligations influence, and in many cases,...
