In this important column, Phia van der Spuy explains some detail about the new trust IT3(t) form which needs to be submitted by SARS by 30 September 2024.
Many boards of trustees, now third-party data providers to the South African Revenue Service (SARS) through reporting beneficiary distributions, remaining ultimately responsible, are turning to their accountants/tax practitioners for guidance.
These professionals play a crucial role in navigating the complex information required for the IT3(t) form, which can only be submitted once the trust financial statements are finalised.
Read here.
Phia van der Spuy is a Chartered Accountant with a Masters degree in tax and a registered Fiduciary Practitioner of South Africa®, a Chartered Tax Adviser, a Trust and Estate Practitioner (TEP) and the founder of Trusteeze®, the provider of a digital trust solution.