The online portal for submitting the property practitioner/estate agents trust audit report has not yet been updated for the new Act!
Summary of changes:
- Online submission via the portal is still required
- The old template is to be used via the portal
- Interest declared for 11 months only (if February 2022 year-end) based on the old Act’s rules
- No declaration of interest for months under the new Act
- 2023 trust audit report will cover a 13-month period for previously undeclared interest under the new Act
- No declaration of unidentified receipts under the new Act
- 2022 trust audit reports already submitted do not require resubmission
- 31 August 2022 submission deadline still applicable if February 2022 year-end
2022TrustAccountAuditReportTemplateChanges
