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Showing posts from February, 2021

It's that time again, the end of the Tax Year

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PAY LESS  TAX  AND GIVE HOPE AT THE SAME TIME Making a charitable donation is not only a chance to make a difference: it's also an excellent way to reduce your  tax  burden for the year. The end of the  tax  year is the 28th of February 2021, and now is the time to donate.  WHAT DO YOU NEED TO KNOW ABOUT GIVING? Remember that donations to individuals will not qualify.  You cannot deduct contributions to specific individuals - no matter how deserving. This includes handouts to the homeless and collections at the office or in your neighbourhood for those experiencing tough times (including pooled funds for folks who are ill or have experienced a tragedy such as an accident or fire). If the deduction is important to you, consider working through an established organisation like Thembalitsha Foundation   Learn More >> When you make your  donation , the  NPO/C  must issue you with a receipt. You'll need to attach this as a supporting document if  SARS  questions the  deduction