BBBEE Benefits

Socio-Economic Development or Corporate Social Investment (CSI) is one of the most established routes used by companies to ‘give back’ to society while building brand loyalty and earning BBBEE points.

Focus on iThemba is wholly dependent on donor funding and is an accredited non-profit, public benefit (18a) organisation. Donations are tax deductible and a tax certificate will be issued for inclusion in tax returns.

Focus on iThemba is BBBEE compliant and we are able to supply donors with a SED (code 700) BBBEE certificate. If you require further assistance with BBBEE matters we recommend you contact BEESCORE on 031 208 7599 or visit their website www.beescore.co.za 

 

Tax Benefits

We are pleased to advise that Focus on iThemba has been approved as a Public Benefit Organisation. This allows donations received to be tax deductible in the hands of the donors in terms of and subject to the limitations prescribed under Section 18A of the Act. We further advise that requests of accruals from the estates of deceased persons in favour of Focus on iThemba are exempt from the payment of estate duty in terms of section 4(h) of the Estate Duty Act, 45 of 1955.

The stipulation by the donor to Focus on iThemba is that he/she must stipulate that the donation is made.

 

To provide preventative and educational programmes relating to HIV/AIDS."

This is in line with legislation that seeks to fund projects and organisations such as Focus on iThemba who are involved in AIDS work. We further advise that a maximum of 5% of a donor's net taxable income may be given to registered organisations having the tax status of a Public Benefit Organisation. A tax certificate will be issued by Focus on iThemba each year for inclusion in your annual tax return.

 

The gift of a Bequest

A bequest is a warmly generous and effective way to make a planned donation beyond your lifetime and lessen the burden of taxes on your family and your estate. The bequest or legacy is a gift of property or money, stipulated in a Will. The bequest could be a specific item such as a motor vehicle or house; it could be a specified amount of money; a percentage or share of the total amount you leave behind; the proceeds of a life assurance policy; or the residue of your estate (that is, whatever remains after all other bequests, taxes and expenses have been paid).

Estate Duty is payable to the South African government on all estates over a certain value. Most charitable bequests are exempt from tax and may save you money by reducing the value of the taxable portion of your estate. If you have an existing Will and wish to alter or update it, or add a beneficiary such as the Focus on iThemba, this can often be done by adding a codicil, rather than rewriting the entire Will. This is a legal document that must also be correctly worded and witnessed so expert help is advisable.

If you choose to include Focus on iThemba in your Will or if you have already done so please kindly inform us. Our team would appreciate the opportunity to discuss with you how you would like your bequest to be used, and to acknowledge your thoughtfulness now, rather than thank your executors later.