Trust filing season - NEW legislative and form changes have been introduced to the Income Tax Return

Price:
R299.00 (VAT Incl.)
Level:
Tax Professionals
Sub-level:
Taxation
Lecturer:
Jeanmari van der Schyff
Duration:
120 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Are you aware that several legislative and form changes have been introduced to the Income Tax Return for trusts (ITR12T)

Content:

Step-by-step approach to complete your Trust return via e-filing.

The enhancements made to the Trust return due to changes in legislation:

  • Section 1 of the Income Tax Act – Definition of a trust amended to include more trusts
  • Section 6quat(1A) (a)(iii) of the Income Tax Act - trusts may now claim foreign tax credits
  • Section 25B of the Income Tax Act 58 of 1962 – Taxation of non-resident beneficiaries of trusts – taxed in the hands of the trust
  • Section 12H of the Income Tax Act 58 of 1962 – Learnership agreements
  • Section 25B(4) – (6) of the Income Tax Act – Limitation of losses.

Beneficial Ownership to be completed on the return.

Form wizard and field amendments