We are currently revamping our website.
Here are 2 of our running campaigns:
Visit PEN’s current site
Step 1: Understand the 18A considerations
- Section 18A of the Act provides that a taxpayer may deduct from its income so much of the sum of any bona fide donation (made in cash or property in kind).
- The deduction that may be claimed in respect of qualifying donations in terms of section 18A is subject to a limitation of 10% of the taxable income of a taxpayer (excluding any retirement fund lump sum benefit, retirement fund lump sum withdrawal benefit and severance benefit) as calculated before allowing any deduction under this section or section 6quat(1C).
- To the extent that the donation made exceeds the deduction allowable in that year of assessment, the balance will be carried forward to the next year and allowed as a deduction in that year.
Step 2: Make payment via these EFT details
- Name : PEN
- Bank : ABSA BANK
- Account : 0020 263 385
- Branch Code : 632005
- Ref: 18A Your Name
Step 3: Email us
- Your company details,
- The Reference you used