16April

COVID-19: TPC SUBMISSION TO SARS FOR NPOS

The coronavirus pandemic has thrust NPOs and the importance of philanthropy into the spotlight. Turning Point Consultants, a partner service provider with Inyathelo to support NPO financial literacy, has made submissions to SARS on tax relief regarding draft disaster relief bills and donations. In summary, Turning Point Consultants proposes that Public Benefit Organisations (PBOs) be included as a qualifying taxpayer to obtain the deferral of PAYE relief. Currently the draft bill excludes most PBOs. PBOs should be granted greater relief on payment of PAYE compared to normal tax-paying entities, and a full tax deduction should be allowed on bona fide donations made for Covid-19 related activities