Part 3/3 – Fundraising events – are there tax implications – Income tax
Income tax Most nonprofits host fundraising events from time to time, from simple cake sales through to elaborate golf days. However, they may not have considered possible VAT, Section 18A and other income tax implications. Nonprofits do not automatically enjoy exemption from income tax, but must apply to SARS for approval as a public benefit […]
Part 2/3 – Fundraising events – are there tax implications? Section 18A
Part 2/3 – Fundraising events – are there tax implications? Section 18A Most nonprofits host fundraising events from time to time, from simple cake sales through to elaborate golf days. However, they may not have considered possible VAT, Section 18A and other income tax implications. PBO’s that also enjoy Section 18A status may be tempted to […]
Fundraising events Part 1/3 – are there tax implications?
At the recent ThinkGood 2017 event, coordinated by Ziyo on behalf of the Service Providers’ Network, we talked on this important topic. Most non profits host fundraising events from time to time, from simple cake sales through to elaborate golf days. However, they may not have considered possible VAT, Section 18A and other income tax […]
Section 18A receipts abuse or misunderstanding?
Section 18A – is it fully understood? Depending on their activities, public benefit organisations (“PBO’s”), as well as certain institutions and Government departments, can apply to SARS for approval in terms of Section 18A of the Income Tax Act. If this approval is granted, their donors can obtain a limited tax deduction (generally speaking of […]
“Changing” the legal structure of your NPO
It has surprised us how often staff, or governing body, members of non-profit organisations (“NPO’s”) have not been able to tell us which legal structure their organisation is established as – “we are an NPO” they insist! The Nonprofit Organisations Act defines, in section 1, an NPO as a trust, company or other association of […]
Financial Sustainability Presentation
Financial Sustainability Presentation
Can we trust the bank?
Can we trust the bank? Imagine the shock of finding that two additional and unknown names have been added to the signatories on the organisation’s bank account! Recently, one of our clients discovered, through the annual audit checks, that this had occurred. They had not requested any change to their bank mandate during the year […]
Protecting the rights of care workers
Protecting the rights of care workers As we commemorate World AIDS Day, we stand together with the 78 million people who have become infected with HIV and remember the 35 million who have died from AIDS-related illnesses since the first cases of HIV were reported. We also celebrate all the passionate and dedicated carers who […]
Financial risks for NPOs
Financial risks for NPOs Every organisation faces uncertainty around future events that could threaten its ability to accomplish its mission and vision. Every organisation must also innovate and be creative to succeed; without taking risks, an organisation will wither and die. So, in 2015, Ziyo will again focus on helping NPO’s to manage and reduce […]
Financial risk #1 surely fraud doesn’t happen in non profit organisations?
Many of us mistakenly think that those who work in non profit organisations (NPO’s) are above temptation or can withstand personal financial pressures; sadly, the demise, or near-demise, of several valuable NPO’s shows this is clearly not the case! The Association of Certified Fraud Examiners’ 2014 Report to the Nations on Occupational Fraud and Abuse […]
