Donations Posts in Tax Q&A

Corporate Social Investment for tax purposes?

I am wondering about the Tax Benefits for companies that donate money for CSI (Corporate Social Investments) is there a certain starting amount companies need to donate? How do I know if my company donates to a charity or NGO that I will get the Tax Benefit? What paperwork should I be asking to see from the NGO or Charity. Your assistance would be greatly appreciated.

Role of SARS in NGO's

What is the role of SARS in non-profit organisation?

What are the next steps after registering an NPC with CIPC and SARS?

We have just registered an NPC. . . . Do we need a tax clearance certificate, BEE Certificate, Income Tax Registration and VAT registration or in other words what are the next steps are registering an NPC or NPO to ensure we are SARs compliant

What are the tax implications of transferring shares without selling them?

If one were to transfer shares in a listed company from person (a) to person (b) without selling them is the only tax implication the STT (securities transfer tax) of 0. 25% of the value? Does person (a) have any other tax implications? and when person (b) sells the shares what would the base cost be? (the same as person a's cost or 0 as person (b) did not pay for the shares)

Are Gifts or Donations received by me for the maintenance of my family taxable?

Are Gifts or Donations received by me for the maintenance of my family taxable?

Can Mother and Father donate together R200000 to their child without donation tax?

Can Mother and Father donate R100000 each to their child in one financial year without any donation Tax if the parents are married in community of property.

Source code 3022 - PROFIT FROM TRADING ACTIVITIES (TAXABLE) not on eFiling

I am trying to declare the profit on the trading of shares (non-Capital gains) in e-filing but the required source code (3022 PROFIT FROM TRADING ACTIVITIES (TAXABLE)) is not available on the pop-up list and I cannot force any other source code than those on the system. What do I do now?

Declaration of donations for tax purposes on the ITR12?

My wife is a housewife and does not earn any income. I regularly make investments for her into unit trusts. Do I have to declare these donations to SARS? Thank you

Tax implication for my child if I give her 500 000 .00?

I want to give my child 500 000. 00what is the tax implication for my child?This is for a gift. Thank you kindly

Will I receive 100% of the value of a charitable donation back as a tax-refund?

I understand that I can claim deductions for charitable donations to a registered PBO (with a section 18A certificate) up to 10% of my taxable income. I am wondering whether I will receive the full value of my donation back with my tax refund or only a portion of it. I like the idea of donating up to 10% of my taxable income, as I will have a say in where it goes. However, this will be a sizeable portion of my income and can only do this if I'm sure of receiving the income back in my tax refund.

Tax on Interest only income?

I'd like to know how tax works based on this assumption:
I have only one income and it's purely from interest earned off of investments (simple investments that give a fixed rate monthly so nothing funny about offshore, shares, etc.)

My guess is that it's the equivalent of earning a salary (i.e. if you earned R3500 in interest monthly that you'd look up the tax rate in the current tax booklet and therefor have to pay nothing as tax appears to only be required when earning more than R5891 monthly)...

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Debit Loan Accounts & DWT

I'm the sole member of a CC & have a debit loan account amount of approx R200,000 for the 2014 tax year.I believe that this raises certain DWT issues etc and was wondering if the CC charges me market related interest on this amount for the year & adds this amount to my loan account, would this solve my problem & not have to declare a dividend to balance the loan?If also heard that if the deemed dividend rule (DWT) will not apply if the loan is repaid or otherwise extinguished by...

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How to input a donation on eFiling?

I made a Section 18A donation. There is nowhere to input it on my eFiling. How do I enter and what is the source code?

Query for Tax Tim Website - want to know what documents to bring along to the internet store before.

What documents do I need when asking tim to complete my SARS tax form? IRP5 and anything else ?

Income tax on salary from a non- profit organisation in USA

I"m working for a non-profit organisation in America. How does the income tax work?

Charitable donations - where do you list them and how do you find out if the church qualifies?

- Where on the tax return do I list my charitable donation?
- How do I find out if the church I contributed to qualifies as a PBO? Apparently there is a list they need to be on?

What of form of tax do I pay if I am an SA resident employed and paid by a foreign employer?

I am employed by an non-profit organisation based in the UK. I am a permanent resident of SA and I work from home. I receive my salary from the UK (monthly, with payslips) in GBP every month and I would like to know what I need to do to pay tax and what documents are required for SARS. Do I do a normal tax return?

What will the tax impl be of transferring property

I wish to have a property of my parents transferred to myself and the transaction to be concluded using an interest free loan from my parents. I then wish for them to write the loan off annually with the full amount that is allowed by tax, they are married in COP.Will this be possible?The value of the property is R1,5mil - municipal valuationWill there be any additional taxes on such a transaction?

What is the capital gains tax implications on a donation?

What is the capital gains tax implications on a donation?

Both questions above are short one sentence each

1) when is the due date for 2014 returns2) Are my donations to my church deductable

Tax on monthly gift from family

A family member is paying money into my account (a fixed amount) over a few months to help me pay back a debt.It is a gift from them to help.Do I have to pay tax on this .I am unemployed and do not submit returns.

PAYE regulation regarding 'unpaid salaries'.

As a shareholder/director of a PTY, if I received "unpaid salary" that then accumulates in a loan account, would I still be require to pay PAYE, even if no income as such is received?

Tax obligations on monetary gift from foreign source?

I am a UK Citizen and have had Temporary Residence in South Africa for a few of years. I work in South Africa, have a valid work permit and am married to a South African.

My parents in the UK (who are British Citizens) would like to put a gift into my UK Bank Account of just over R1,000,000. My UK bank account has sat dormant for years and I submit my SARS Tax Return with the details of my active South African Bank Account. Will I, or my parents, have any tax obligations in South Africa in relation to the gift? Also, am I required to reflect the gift on my next Income Tax Return in South Africa?...

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Tax Implications Of a Cash Gift/Loan Between Family Members

My wife received a R250K cash gift (or loan) from her mother on the condition that it should be repaid if the mother needs it back - otherwise it is to form part of her inheritance.Is there any tax implication to this besides my wife declaring the interest earned on this amount as taxable income on her returns?

If you donate R100 000 to your spouse, does she need to declare it as income and pay normal income t

If you donate R100 000 to your spouse, does she need to declare it as income and pay normal income tax on it?If yes;If your spouse is in a lower tax bracket than you, would you donate money to him / her annually? Then the spouse will be taxed on the donation at lower rate than what you would be taxed at?
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