Sars has its eye on the application of attribution rules in trusts
Trusts that have failed to comply with the rules are exposed to penalties and fines.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreTrusts that have failed to comply with the rules are exposed to penalties and fines.
Trustees will have to report directly to Sars, outside of the current trust tax return process, and before the trust tax return is due.