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Two ways giving a generous donation can benefit your business

by , 18 July 2014
You might feel a lot of pressure as a business owner to give back to your community. It seems it's the 'in thing' to be a generous business owner. The problem is this sometimes places a lot of pressure on your bottom line, not just you. The more money you donate, the less your business has to run on.

If all this pressure makes you want to crack, think about it differently. There are actually some massive benefits your company can get from giving out the odd donation.

Here are two such benefits you should think about...

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Avoid 200% tax penalty

There are benefits to making donation that could help your company

All this pressure on your company to make donations can actually help your business. 
The truth is, as self-absorbed as it sounds, you can get great publicity from good deeds such as regular donations. If your community sees you're willing to give to them, they'll be more willing to give you their business.
With this kind company image boost comes more business. So don't think of donations as a financial drain, think of them as an investment in your company's future.
And there's one more even better benefit...

There's a tax benefit to making donations too

If you make a donation to a Public Benefit Organisation (PBO) that's no more than 10% of your company's taxable income for the year, you can claim it as a tax deduction. 
Just be careful though. That donation tax deduction can soon turn into donation tax if you don't keep to the rules SARS lays down to ensure you aren't trying to dispose of an asset under the table.
So go on and donate to those in need and your company will benefit from good publicity and a tax deduction.

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