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The one document you need to claim your Movember donation as a tax deduction

by , 10 November 2014
If you're looking for a good cause for your company at this time of year why not donate to Movember? The campaign helps raise awareness and funds for cancer research.

What better cause could there be for your company to support?

The good news is, you won't just get the satisfaction of doing something good from your donation. You'll also get a certain document.

A document you can use to claim a portion of your donation back as a tax deduction.

Read on to find out what it is...

 

This is the document the Movember organisation will send you to claim your tax deduction

 
The document you'll get back is a tax certificate. You can't claim your tax deduction without it.
 
It proves you donated money to a public benefit organisation (PBO) that's tax exempt.
 
In the case of Movember, the organisation's associated to CanSA and, therefore, also obtains its tax exempt status.
 
Just remember, you'll only get this document from tax exempt organisations because it's only when you donate to a BPO that you can claim the deduction.
 
So to claim your deduction, ensure you receive your tax certificate and check it has all this information on it.
 
*********** Reader's choice  ***************
 
You can get all your business tax questions answered by our experts for FREE thanks to the Tax Helpdesk… 
 
It comes standard with your Digital Practical Tax Handbook. 
 
Click here for your copy. 
 
***************************************
 

Ensure your Movember tax certificate contains all this information on it

 
1. The organisation's exemption reference number;
2. Your company's name;
3. The amount you donated;
4. The date you made the donation;
5. The date the organisation received the donation;
6. A receipt number;
7. The organisation's contact details. and
8. Details of who you can contact for a Section 18A (Approval for tax deductible donations).
 
For more on donations tax deductions, check out the Practical Tax Loose Leaf Service
 

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