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Will my company's Movember team earn me tax relief?

by , 10 November 2014
This time of year means one thing. No, I'm not referring the Christmas decorations going up. I'm referring to men growing moustaches for cancer.

Movember is a campaign to raise awareness and money for cancer research. If your company wants to get involved, the best thing to do is form a Movember team on their website.

Here friends and family can donate money to your team on the website if they feel their 'staches are good enough.

If you're wondering 'Will my company earn a donation tax deduction if we have a company Movember team?' Read on to find out the answer...

 

No, your Mo-Bros won't earn you a tax deduction for raising money

 
The general rule when it comes to donation tax deductions is you get the deduction because you donated your company's money. 
 
So, if you only have a team of company Mo-Bros getting money from other people, you're using their money, not your own. 
 
Doing Movember this way means your team won't earn you any deductions. This applies even if the team is on the website under your company name. 
 
But if you do this, you can turn Movember to your favour.
 
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Do this so your company Movember men earn you a tax deduction

 
If you, as the company, donate money to your team through the Movember website, you WILL get a tax deduction.
 
The site will give you a tax certificate in return that you can use to claim a portion of the donation back from SARS.
 
Just be sure to do this through the Movember site or donate money straight to the Cancer Association of South Africa (CanSA) as it's a public benefit organisation (PBO).
 
Now that you know how your employees' hairy lips can earn you a deduction, consider getting behind this great cause.
 
For more on donation tax deductions, check out the Practical Tax Loose Leaf Service
 


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