Did you know you can reduce your tax liability by donating to a registered public benefit organisation (PBO)?
MIDRAND – By donating to a PBO, you can claim for a tax deduction of up to 10 per cent.
The end of the 2018/2019 tax season is near and if you are looking to support a public benefit organisation (PBO), it just got easier.
A PBO is a registered non-profit organisation and by donating to a non-profit organisation you can reduce your tax liability by up to 10 per cent.
Non-profit organisations are vital in helping their communities and uplifting the poor and many of them struggle with funding. The South African Revenue Service (Sars) hopes that having tax deductions for PBOs will help raise funds and attract potential donors.
Tax exemption status is only given out by Sars and if you plan to donate, a Section 18A tax certificate will be given to the donor to claim a deduction. You can make donations to a non-profit organisation by 28 February before midnight.
Midrand SPCA is a registered PBO looking for donations.
For more information email, manager@midrandspca.co.za or call on 011 265 9935.
Related articles:
https://www.citizen.co.za/midrand-reporter/199656/tax-deductible-business-expenses-know/
https://www.citizen.co.za/midrand-reporter/197567/tax-free-savings-options-south-africa/
