[Question] Dividends tax question

[Roger15]

Good day,

I have a vesting Trust which received Old Mutual Share dividends. According to OM, they have deducted 15%withholding tax.
The Trust receiving the dividends is not going to make any distribution of income to any of the beneficiaries for the 2013 tax year.

Will this dividend then be declared for tax purposes as income and based on 40% or will it in fact be exempt per prior years and not included in taxable income?

Thanks

[CLIVE-TRIANGLE]

They are non-taxable in the hands of the recipient.