Did you know that if you are a South African corporate or company and make a donation to Qhubeka it will be exempt from tax and also qualify for a tax deduction?
We’d like to help you make one simple action to not only change lives for people in South Africa, but save your company money during tax season.
The tax savings on donations for your company (assuming top marginal rate) could be 28% of the actual donation made to Qhubeka!
Follow these three rules to get the thumbs up from SARS on your donation to Qhubeka:
- 1. Donate to an approved Public Benefit Organisation (PBO): Qhubeka received PBO status in September 2015. This means we can now issue Section 18A certificates for donations. To get the deduction you will need to show the donation certificate to SARS.
- 2. You can donate 10% of your company’s taxable income each year: To claim a deduction for the donation and avoid paying donations tax on it, you can donate up to 10% of taxable income to PBOs in a given year. Donations made in excess of the 10% taxable income limit can be carried forward to the following year for a deduction (assuming the 10% rule is not exceeded in the next year).
- Make sure you get a receipt: When you make a donation to Qhubeka of R1,000 or more, we will automatically issue you with a Section 18A receipt. If you don’t receive one or make a donation of less than R1,000 please email firstname.lastname@example.org so we can make sure to send you one. You will need to attach this receipt as a supporting document if SARS questions the deduction of the donation when you submit your tax return.
Direct bank donations
If you’d like to make a donation directly to the Qhubeka bank account, please use the banking details below. Kindly also email us the deposit information at email@example.com as we would like to know who the donations come from and to be able to thank you for your generosity and issue your Section 18A certificate.
- Bank: First National Bank South Africa
- Account Name: Qhubeka the motive power movement
Account Number: 62405320227
- Branch Code: 250655
- Swift Number: FIRNZAJJ
If you’d like to make a secure donation online via debit or credit card to Qhubeka, or to one of Qhubeka’s current fundraising projects, visit our GivenGain Page. If you would like more info on how to fundraise for Qhubeka go here.
If you’d like to make a secure donation online via PayPal to Qhubeka you can use the email address: firstname.lastname@example.org
Corporate Socio-Economic Development Funds
With the many developmental and social upliftment issues facing South Africa, most South African corporations have a social responsibility policy and funding aimed at addressing these issues. If you’d like to know more about how your organisation can support Qhubeka in this way, email email@example.com.
Corporate Enterprise Development Funds
Many South African corporations have an enterprise development policy and funding aimed at addressing the need to develop sustainable enterprises and uplift communities. If you would like to find out how your organisation can partner with Qhubeka in terms of enterprise development, email firstname.lastname@example.org.
You can read our Qhubeka Donor Policy here.
Note: Qhubeka is a registered PBO (PBO number 930/048/293), which means that donations (in South Africa) are tax exempt.