Delayed Trust Filing Season Start Date: Impact on Trusts, Beneficiaries, and How SARS Intends to Use 2024 IT3(t) Data

SARS has announced the postponement of the opening date for the Trust 2024 tax filing season. Legislative amendments are now scheduled for implementation on 13 September 2024, rather than the originally planned June/July 2024 timeline.

This adjustment is a one-time change, with the expectation that the trust tax filing season will revert to its usual June/July opening for the 2025 year of assessment. The new opening date for 2024 income tax return submissions for trusts is set for 16 September 2024, and the 2024 trust income tax return will not be available before this date.

Sidney Fletcher

Senior Manager Trust and Deceased Estate Tax Compliance