Home General Information Direct Taxes Indirect Taxes Contact Us Links Downloading Reports  will require Acrobat  Reader. (click below)	DIRECT TAXES - Taxation of Trusts (click on heading below then click again) Unit Trusts Landowner Resource Trust Other Trusts Taxation of Trusts Trusts are taxed at different rates, depending on their status. (c) Other Trusts The income of a trust is taxed at 28%. Distribution by other trusts Distributions to non-resident beneficiaries are subject to an additional final withholding tax of 10% of the distribution.
		Resident beneficiaries are taxed again, at their marginal tax rate, on the net share of the trusts income to which they are entitled, whether or not it has been distributed to them. Generally, resident beneficiaries are not allowed a credit for tax paid by the trustee on the trust income.Exceptions to this rule are
		- where a beneficiary is liable to pay tax on a present entitlement of a share of trust income which has not in fact been distributed to him; or
		- if the trust has been established by a Court, or by the Will of a deceased person.
		In those cases, the beneficiary is entitled to a tax credit against his personal tax liability, equal to either his average tax on his trust income distribution or the proportionate tax paid by the trustee, whichever is the lesser.
	View and Print Taxation of Trusts (Trusts.PDF 4KB)

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