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


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

 
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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 of the donation when you submit your tax return.

 

 
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When economic times are tough and money is tight, Non-Profit Organisations/Companies are usually the first to suffer. A well-designed tax system which incentivises charitable donations is one way in which the Government can provide much needed support to these organisations. Your donation is only valid for a SARS' tax break if you make it to a SARS approved public benefit organisation (PBO) or Non-Profit Organisation/Company (NPO/C).

 
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Direct deposits can be made into the following account:

  • Account Name: Thembalitsha Foundation
  • Bank: Nedbank
  • Branch: Tygerberg Winelands
  • Branch Code: 198765
  • Account Number: 1048 037 061
  • Swift Code: NEDSZAJJ
  • Reference: Your name or organisation name

 

Please send proof of payment to amanda@hope.org.za in order for us to acknowledge receipt and issue a tax certificate.

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