TAX EXEMPT AND SECTION 18A APPROVED
by Johann Hunter
An application has been successfully made by Cyrus Missions Trust to the SARS for tax exemption, and importantly also for approval to issue section 18A certificates to donors (donations to PBO’s may only be deducted from a person or a company’s taxable income where that donation was made to an organisation that has been approved to issue section 18A certificates).
After much correspondence with the SARS over a 3 year period, we are pleased to announce that approval has been granted for tax exemption and section 18A status, valid as from 3 December 2015.
This means that all donations that are channelled through Cyrus Missions Trust to our various NGO’s and also to Shofar congregations and ministries of which the purpose satisfies the above objects of the Cyrus Missions Trust, will qualify for a section 18A certificate and the donor will be able to deduct such donation from his taxable income when submitting his annual tax return. It would, however, for management purposes be essential that all donations be clearly and specifically earmarked for specific application.
For more information, please contact Johann Hunter (National Financial Administrator of Shofar) at 021 809 9400.