A trust is an arrangement to manage and protect assets for the benefit of one’s self or others. Created by a written agreement which clearly outlines the trustee’s responsibilities, it also identifies those who share in the benefits.
All the necessary involved in running a trust, resolutions ect.
An examination and verification of a trust’s financial and accounting records and supporting documents by a professional, such as a Charted Accountant.
Formations of trusts, and registering the trust with the Master of the High Court.
The trustee should annually submit an ITR12TR. Income of a trust will be taxed in the hands of one of the following: the donor, the beneficiary or the trust. A trust is taxed at 40%, but a special trust is taxed at a sliding scale from 18% to 40%.