What is a Special Trust in South Africa?
In South Africa, a Special Trust is a specific type of trust recognized by the South African Revenue Service (SARS) that offers more favorable tax treatment compared to conventional trusts. It's designed to cater to the unique needs of vulnerable individuals or minor children. There are two main categories of Special Trusts, each with distinct purposes and requirements: Special Trust Type A: This trust is established solely for the benefit of one or more persons who suffer from a permanent mental or physical disability. The disability must be severe enough to prevent them from earning sufficient income for their maintenance…
