Trading trust or CC

[duncan drennan]

..ultimately they're in vitro trusts....

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).