Trust Administration

Independent, ethical and professional
trust management

Good governance starts with good administration.
Trusts come with specific legal, accounting and tax responsibilities.
Keeping up with those obligations doesn’t have to become another thing on your already-full list.
Numberwize provides practical support with the ongoing accounting, tax and administration of trusts

Keeping your trust compliant:

Services

Trust Administration

Trust Registrations

We assist with the establishment and registration of trusts and the necessary administrative requirements.

Trustee Amendments

When trustees change, the relevant records and documentation need to be updated. We assist with the necessary submissions.

TRUST ACCOUNTING

Accurate financial records and annual financial statements help trustees understand and manage the trust’s financial position.

Trust TAX

We prepare and submit trust income tax returns and assist with ongoing tax compliance.

IT3T REPORTING

Where applicable, we prepare and submit IT3T returns relating to distributions to beneficiaries.

Trust Deregistration

When a trust has fulfilled its purpose or needs to be wound up, we assist with the necessary administrative and compliance processes.

Frequently Asked Questions

Does a trust need to submit an annual tax return? +
Yes. Every registered trust is generally required to submit an annual income tax return to SARS, even if the trust did not earn taxable income during the year. We can prepare and submit your trust's tax return and assist with ongoing tax compliance.
What is an IT3T return? +
An IT3T return is an annual submission made to SARS that reports distributions made by a trust to its beneficiaries. Where applicable, we prepare and submit the IT3T return to ensure your trust meets its reporting obligations.
Can a trust be deregistered? +
Yes. If a trust has fulfilled its purpose or is no longer required, it may be possible to deregister it. We assist with the administrative and tax compliance processes required to wind up a trust.
What is an Independent Trustee? +
An Independent Trustee is a trustee who is independent of the beneficiaries and founders of the trust. Their role is to help ensure the trust is administered objectively and in accordance with its legal obligations.
Can a trust own property or other assets? +
Yes. A trust can own assets such as property, investments and business interests. Proper accounting and record-keeping are essential to manage these assets and meet ongoing reporting requirements.
Do all trusts have to register with SARS? +
Yes. Registered trusts are generally required to register for income tax with SARS and comply with their ongoing tax obligations.

Not sure what you need?

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THE NUMBERWIZE APPROACH.

Technical enough to get the details right.
Personal enough to understand why they matter.

Talk to Us About Your Trust
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