Since 2023, SARS has categorised trustees as third-party data submitters alongside banks and other financial institutions, which are required to report their figures to SARS so that SARS can pre-fill this information in the relevant persons’ tax returns, aiming to prevent tax leakage. This has had a substantial impact on how trustees manage trusts and on various individuals involved with trusts, such as donors, funders, and beneficiaries.
Similar to last year, the deadline for submitting the IT3(t)s is September 30, 2025. However, the submission channel will remain open after September 30, 2025, to allow trustees to still file IT3(t)s post-deadline.
Read more about what trust expert Phia van der Spuy has to say.
Phia 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.