A document answering frequently asked questions in respect of insolvent estates of individuals has been issued by SARS
SARS has issued a document on 22 February 2022 which answers frequently asked questions in respect of insolvent estates of individuals.
The documented issued by SARS on 22 February 2022, titled “Frequently asked questions: Insolvent estates of individuals” answers a wide range of typical questions when it comes to insolvent estates.
The questions are addressed under the following topics:
- General;
- Responsibilities of the trustee in the Insolvent Estate;
- Income tax implications;
- Insolvent Estate;
- Capital Gains Tax;
- Insolvency and Partnerships;
- Other tax types;
- Coding of the insolvent person;
- Registration of an insolvent estate;
- The taxpayer after sequestration; and
- Submission of income tax returns.
A copy of the document can be accessed here.
04/03/2022