News and Opinions

New tax rule impacts PBOs

A new rule with a deadline of 31 May 2024 is critically important to ensure that the donation is allowed by Sars as a tax deduction Picture Timothy Bernard Independent Newspapers

Section 18A-approved entities must now submit third-party data to Sars for donations received between 1 March 2023 and 29 February 2024. Those without donations must submit a nil declaration. Non-compliance risks losing tax-deductible status, as Sars compliance is crucial.

Read more here | IOL News, 14 April 2024

Picture: Timothy Bernard: Independent Newspapers.


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