Qount Accounting

SARS Update for Trusts – Important Deadline Change

The South African Revenue Service (SARS) has given trusts a bit more breathing room

New penalty date:
Administrative penalties for late or non-submission of trust tax returns (ITR12T) will now only start from 4 May 2026.

Why the delay?
SARS received feedback that trust tax compliance is complex, so they’ve allowed an extra 2 months for trustees to get their affairs in order.

What you should do now:
Use this time to:
1.Submit all outstanding tax returns
2.Pay any outstanding tax
3.Update your trust details

If your trust is no longer active:
You must formally deregister with SARS by:
• Filing all outstanding returns
• Settling all taxes
• Providing proof that the trust has been terminated

Don’t wait too long!
From 4 May 2026, penalties will apply if you’re still non-compliant.

If you’re unsure about your trust’s compliance, it’s best to speak to your accountant or tax practitioner.

The Investigating Directorate Against Corruption (IDAC) and the South African Revenue Service (SARS) have secured a major win in the fight against financial crime.

Tshepo Khoza, director of Grey Apple Trading Enterprise, has been sentenced to six years in prison (two suspended) for R3.6 million tax fraud after falsely declaring his company dormant while earning millions through SAPS-linked tenders.

SARS Commissioner Edward Kieswetter stressed that tax fraud steals from the nation and undermines service delivery.

At
Qount Accounting we consistently advise our clients to comply with all tax laws to ensure long-term sustainability, transparency, and business growth. Compliance protects businesses from penalties, reputational damage, and legal risk.

Joint media statement: The Investigating Directorate Against Corruption (IDAC) and the South African Revenue Service (SARS) | South African Revenue Service The Investigating Directorate Against Corruption (IDAC) in collaboration with the South African Revenue Service (SARS), and other law enforcement agencies have secured six years direct prison sentence with two years suspended for Tshepo Khoza in a tax fraud matter involving approximately R3.6 millio...