The Mitchells Plain Bursary and role model trust is a South African registered Public Benefit Organisation (PBO) in terms of both section 30 and 18A of the Income Tax Act. A PBO which is recognised under section 18A is entitled to issue receipts to South African donors under section 18A(2). Armed with those receipts, the donors can treat their donations to the PBO as tax-deductible expenses (thereby effectively only paying sixty (60) percent of the face value of the donation).
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AT A recent gathering of students who benefited from an education trust which he founded, former finance minister Trevor Manuel was intro- duced as “the world’s longest-serving finance minister”. Read the full article.