BBBEE Benefits

Socio-Economic Development or Corporate Social Investment (CSI) is one of the most established routes used by companies to ‘give back’ to society while building brand loyalty and earning BBBEE points.

Focus on iThemba is wholly dependent on donor funding and is an accredited non-profit, public benefit (18a) organisation. Donations are tax deductible and a tax certificate will be issued for inclusion in tax returns. 

 

Donations can qualify organisations to score BBBEE points. The full value of the contributions made is recognizable if at least 75% of the value directly benefits previously disadvantaged South Africans. iThemba’s beneficiaries meet this criterion. Business enterprises with an annual turnover of between R5 million and R35 million who donate 1% of net profit after tax will receive 25 points towards their BBBEE scorecard. 

Enterprises with an annual turnover of over R35 million would need to contribute 1% of net profit after tax to earn 5 points.

Please note that points can only be received for company contributions, so donations from staff members (either monetary or volunteering outside of normal working hours) will not be eligible. We are pleased to be able to reward our loyal and generous corporate supporters for their contributions to our organisation by issuing them with a certificate that can be submitted to a BBBEE verification agency for points on their BBBEE scorecard.  The table below outlines the benefits associated with each contribution. Please double click on the table for a larger view.

Should you have any queries please contact Sashni Hiralall at PKF BBBEE Solutions (Pty) Ltd, a leading BBBEE verification agency, at: sashni.hiralall@pkf.co.za or Tel: 031 573 5000

 

BBBEE Table

Click on the image to enlarge table

 

 

Tax Benefits

We are pleased to advise that Focus on iThemba has been approved as a Public Benefit Organisation. This allows donations received to be tax deductible in the hands of the donors in terms of and subject to the limitations prescribed under Section 18A of the Act. We further advise that requests of accruals from the estates of deceased persons in favour of Focus on iThemba are exempt from the payment of estate duty in terms of section 4(h) of the Estate Duty Act, 45 of 1955.

 

The stipulation by the donor to Focus on iThemba is that he/she must stipulate that the donation is made.

"To provide preventative and educational programmes relating to HIV/AIDS."

 

This is in line with legislation that seeks to fund projects and organisations such as Focus on iThemba who are involved in AIDS work. We further advise that a maximum of 5% of a donor's net taxable income may be given to registered organisations having the tax status of a Public Benefit Organisation. A tax certificate will be issued by Focus on iThemba each year for inclusion in your annual tax return.