Month: April 2024

With a valid tax certificate from a qualifying PBO, taxpayers – companies and individuals – can get a tax deduction for donations made.  New requirements for both valid tax certificates and PBOs have been implemented by SARS, the most recent being effective from 31 May 2024, affecting both PBOs and their donors. Before donating to a PBO and relying on the tax break, be sure to first verify with us the eligibility of the PBO and tax certificate with the new requirements. For PBOs, our professional assistance in meeting the new requirements is recommended.   

Public benefit organisations (PBOs) are engaged in public benefit activities for example religious institutions, day care centres, disaster relief organisations, health clinics, etc.  Many are dependent on donations and, to encourage the public’s generosity, a tax deduction for certain donations made by taxpayers is provided. 

Qualifying PBOs (i.e. section 18A-approved organisations) may issue tax certificates – called section 18A receipts – to donors.    This tax certificate – or section 18A receipt issued by a section 18A-approved organisation – entitles you or your company to a deduction from taxable income for bona fide donations in cash or of property.  While approved section 18A institutions were previously required to keep records of all section 18A receipts issued, the requirements have changed, affecting both PBOs and their private and corporate donors.          

Government’s approach to balance this year’s National Budget 2024 shortfall of R15 billion didn’t set a positive example for South African individuals and businesses that face the same economic challenges but are, unlike government, unable to side-step spending cuts by squeezing taxpayers and tapping into national reserves.            

Given the economic conditions, business and personal budget shortfalls are not uncommon. Find out here why it is so important to balance your own budgets and what to do when facing a shortfall without compromising your capacity to achieve your goals.

With so much of the population now working remotely as contractors or freelancers, the traditional employer/employee model is being scrutinised more closely than ever before. While considered a classic form of doing things, there is little doubt that the full-time employee still has much to offer a company, in the right circumstances.

Deciding when to use freelancers or hire full-time is a job that requires an entrepreneur to examine the exact needs of the company, the finances available and the long-term repercussions and training required for a specific position. Here is our quick guide on how to determine how each of the roles in your organisation should be filled.

Nothing is more important when running a successful business than pricing your products accurately. Most business leaders are already examining the maths, costs and business considerations behind pricing, but there is also an entirely separate consideration which needs to be taken into account – human psychology.  Human psychology and decision-making play a huge role when it comes to developing pricing strategies and taking these into consideration will always ensure greater sales and ultimately a healthier business.