Is PBO approval important for South African non-profits?
Is PBO approval important for South African non-profits? Over the years of consulting in the non-profit sector, we have frequently encountered organisations which have never applied for PBO approval or income tax exemption with SARS. The reasons provided for not having done so are often based on false beliefs such as: All non-profits are automatically […]
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 […]
