I'm not sure how SARS feels about those, but auditing them should be helluva interesting!!
I think you may mean intervivos (or "living") trusts.
Trusts are a bit of a strange thing really. In SA law they are not real entities. They are not technically a legal person, but also not a natural person — my understanding is that they are more like an extension of your natural person–hood (if that makes any sense). I would say that for tax purposes they are like a natural person, but have a flat 40% tax rate. AFAIK, there is no issue with depreciating an asset in the trust, but I'll try to find out about this (note to self: send email to accountant).
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