24 May 2019 / 18 Ramadaan 1440
Nisáb = R5045.85
Silver = R8.24/g (R256.28/oz)
Gold = R686.62/g (R15 540.87oz)
Prices & Calculations include VAT
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What’s Going On?
The current financial year ends on 28 February 2019, which means tax payers only have a month to ensure they get a tax benefit from making a donation to an approved non-profit organisation.
How Do I Get a Tax Benefit from Making a Donation?
SANZAF is registered as a Section 18A Public Benefit Organisation (PBO number 930001714). As a result of this registration, SANZAF is authorized by SARS to issue its donors with a Section 18A tax certificate/receipt upon request. This will allow the donor to claim their donations as a tax deduction. In this way, as a donor, you are able to assist SANZAF help those displaced from their businesses and homes and also obtain a tax benefit in doing so.
How does it work?
Donors can obtain a tax deduction (limited to 10% of their taxable income in a fiscal year) in respect of the total donations made to approved organisations such as SANZAF. In order to do so the donation has to be supported by a receipt from SANZAF.
As an example, if a donor earns R100 000 taxable income per annum and during that year had donated R10 000 to a PBO then the donor qualifies for a tax deduction of R10 000 from their total taxable income. This means that in this example, the donor would not have to pay tax on R100 000 (total taxable income for the year) but rather R90 000 (R100 000 – donation of R10 000) for that year.
What Do I Do?
- Make a contribution to one of our many projects or programmes which change lives locally.
- Then claim a Section 18A certificate by emailing firstname.lastname@example.org or ticking the Section 18A box on our online donation form.
- One of our dedicated staff from the accounts department will be sure to send you your section 18A certificate.
- This can be used when filing your tax return to claim your deduction as a tax benefit
Remember only contributions made to local causes and projects qualify as a tax deduction, any gratuitous cash or in kind donation made to SANZAF for the undertaking of qualifying public benefit activities within South Africa can be claimed as an income tax deduction by the donor. Donations to an organisation that uses the money for a cause outside of Africa do not qualify for a Section 18A certificate. Your contribution must have been made in the current financial year to qualify as a deduction on upcoming tax return.
What Does This Mean?
Not only are you able to assist SANZAF to #GiveHope but also claim a tax benefit for your contributions!
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The World Zakah Forum was established as a platform to formulate effective solutions to the multi-faceted issues facing the Islamic World such as effective collection and distribution of Zakah, socio-economic development in Muslim communities and the empowering of the Ummah around the world. Between the 5th and 7th of December 2018, the World Zakah Forum hosted their latest International Conference in Melaka, Malaysia
The conference played host to 300 attendees including 31 speakers from 16 countries, including England, Nigeria and India. SANZAF was proud to have our Chief Executive Officer, Yasmina Francke, represent South Africa on the world stage as one of the speakers. In addition to discussing the practices and environment that the South African National Zakah Fund operates in, our CEO presented on how Zakah can be aligned to achieve some of the sustainable goals set by the United Nations to be achieved by 20130.
This opportunity also allowed her to not only gain an international perspective and insight into the Zakah management practices and principles which she brought home but also gauge SANZAF on a world platform in respect of how the organisation’s approach, methodologies and even challenges compares to international best practices.
The Conference discussed various contemporary and updated topics on global zakat development. It was noted the growing role of Zakah plays in solving global poverty and inequality, and proposed new approaches utilizing the third pillar of Islam.
Based on the two-day discussions, a few of the outcomes of the World Zakah Forum were:
- The philosophy and core values of Zakah should be strictly observed in increasing the welfare of Ummah.
- Zakat should be considered as a complementary financial resource in the achievement of Sustainable Development Goals.
- The World Zakah Forum calls on all its members to adopt Zakah as a critical policy instrument in socio-economic development in their respective countries.
- Zakah centred organisations should be required to be transparent and accountable in publishing their reports to the public.
- The World Zakah Forum reiterates its willingness to cooperate with developing countries in combating poverty through blended financing of Zakah and donation of the respective developing countries.
This memorable occasion is testament to SANZAF’s commitment to leading the way in efficient, relevant and effective Zakah collection and distribution.
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What is WAQF?
A Waqf is a voluntary, permanent, irrevocable dedication of a portion of one’s wealth – in cash or kind – to Allah (SWT) and is often offered as a charity.
Land and buildings have frequently been given as Waqf, and used to build schools, hospitals and mosques, amongst other functions to benefit the community. SANZAF accepts monetary donations as Waqf, investing the money by for example, purchasing property or doing renovations to a masjid to benefit society.
SANZAF Orphans Waqf
Supporting the Bait Haleema Sa’diyya Orphanage
UNICEF estimates that there are 3.7 million orphans in South Africa, about half of whom have lost one or both parents to AIDS. In addition, 150 000 children are thought to be living in child-headed households. This leaves children having to fend for themselves, their younger siblings and even sickly parents. The same children are often forced to drop out of school and earn an income by any means possible.
The SANZAF Orphans’ Waqf was established in 2009 as a sustainable resource-base to support orphans and destitute children in South Africa. The waqf forms a perpetual endowment, whose capital/earnings are designated for supporting orphans.
This year SANZAF will be supporting the Bait Haleema Sa’diyya Orphanage project in providing orphaned and destitute youth with a safe and healthy environment for living and learning. The orphanage will cater for approximately 60 children and seeks to provide high-quality facilities to these orphaned children. The orphanage will consist of 10 x 6 sleeper units, each unit will have a sleep-in care giver (house mother), thereby creating a more homely, child-friendly and development-orientated environment. The orphanage will also have a common eating and homework area, although each unit will have its own kitchenet, lounge and study area.
Make a difference in the lives of children by assisting us to support Bait Haleema Sa’diyya Orphanage in Ennerdale, Gauteng, with the sponsorship of a building.
SUPPORT SANZAF WAQF PROJECTS AND #GIVEHOPE TO THOSE IN NEED AND GAIN REWARD IN THE HEREAFTER
Contribute any amount with Niyyah of Sadaqah-Jaariyah for a loved one who has passed on.
#GiveHope Monthly via Debit Order:
pdf SANZAF Debit Order Application Form (70 KB)