Did you know that SANZAF is registered as a Public Benefit Organisation and that your donations towards most of our projects are tax-deductible?
A Public Benefit Organisation (PBO) is any welfare, religious or cultural body, private school, bursary fund or charitable trust that has been approved by SARS. The PBO's legal status can take the form of either a Trust, a section 21 Company or an Association of Persons. SANZAF is registered as a Public Benefit Organisation (PBO – 930001714). The benefit to the donor is that any cash donation that is made to SANZAF for local initiatives can be claimed back from SARS. Donors can obtain a limited tax deduction (generally speaking of up to 10% of their taxable income in a tax year) in respect of the total donations made to approved organisations such as SANZAF.
As an example, if a donor earns R100,000 taxable income per annum and during that year had donated R10,000 to a PBO then the donor qualifies for a tax deduction of R10,000 from their total taxable income. This means that in this example, either he or she will have to pay tax on not R100,000 (total taxable income for the year) but rather R90,000 (R100,000 less donations of R10,000) for that year.
As a result of its registration as a PBO, SANZAF is authorized by SARS to issue its contributors or donors with a Section 18A Tax certificate upon request. This will allow them to claim their donations tax deduction.