Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
Company Secretarial
General Business
General Interest
Investing in Property
Personal Growth
Personal Wealth
Trusts and Estate Planning

Each year, you will be making a donation of R100 000 to your trust owned company.

Does it have to be declared anywhere?

Yes. All companies must declare all income received or accrued in their annual tax return. Here’s how:

Click on Balance Sheet.

Under Current assets – Trade and other receivables enter the current balance from the TB. It will include the latest donation and previous ones as well.

Under Total Equity,  enter the current balance from the TB.

Click on Income Statement, then on Income Items.

Under Other income type in the donation amount.

Then click on Tax Computation.

Under Other Adjustments : Allowable, type in the donation amount.

That’s it! You do not disclose the donation on your personal tax return and you do not submit a Donations Tax Return.


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help