South African trusts and payouts

[Nicola3819]

Hi 

we are still struggling. As per SA trust law we need a neutral trustee . Everyone uses their accountant normally.

airBnB now wants the trust need of my Accountanting firm as well as their partners showing their percentage splits.

Is their anyone from AirBnB that understands SOUTH AFRICAN TRUST LAW.

who can I phone locally? I keep getting people from Ireland 

warm regards 

Dave

[Shelley159]

Hi @Nicola3819 

I doubt that a large number of hosts operate an Airbnb inside a trust. Trusts are difficult to begin with (FICA, high taxes, etc.), and the fact that it's not a mainstream way to do business with Airbnb is probably making it even harder for you to tick all of Airbnb's boxes. I'm not sure how your struggles began, but if there's any way that this may be a recurring (annual?) problem between you and Airbnb, it may be good to find an easier solution. Can't you just host in your own name on Airbnb (as a straightforward natural person) and set up a contract (between yourself and the trust) that you will transfer all of the Airbnb income to the trust?

[Paula]

Hello @Nicola3819 👋

Thank you so much for joining our community!

I’m glad to see that Shelley, one of our experienced hosts, has shared her advice. Have you had a chance to read her comment?

Please keep us posted!

[Frances3408]

@Nicola3819. Hi Dave, sorry I'm not a SA host but cant you supply the Beneficary Schedule part of your trust deed and any relevant definition sections to show who the actual beneficiaries are? I'd be suprised if its your accountants because that would hardly be "neutral".