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New SARS guide for deceased and insolvent estates

The SARS published a new external guide: GUIDE TO THE ITR12 RETURN FOR DECEASED AND INSOLVENT ESTATES, on 25 January 2019.

According to the guide its purpose is to “… provide assistance to complete an ITR12 return where there is income received or accrued to a deceased or insolvent estate.”

The guide is applicable to executors  representing  individuals  who  have  passed  away  on  or  after  1  March 2016, and to appointed  trustees/administrators  where  an  individual  becomes  insolvent  and income accrued to or business was conducted from the date of sequestration onwards.

Click here for the guide.

 

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