Anlo News and Working with Non Profits - July Newsletter
/Anlo’s values: Reliable, ethical, nurturing and respectful with a growth mindset
June was really a challenging month for me. I lost my mother due to complications arising from Covid-19 and although life goes on, I think I’m still in shock to be honest. Heart-breaking though this episode was, I have learnt so much and I want to share this with you.
I learnt that family and friends really do care; so many people have contacted my dad and me and it meant so much to us and was so deeply appreciated by both of us.
Because we could not hold her funeral in the traditional manner, it was important for us to be able to speak to people and to reminisce about my mom and the great times. It also gave us an opportunity to remember how much she meant to people, and it made us very proud.
On a purely practical level I learnt why it is so important to have an up-to-date will. You don’t have a will for you, you have a will for your loved ones, the people you are leaving behind.
I walked into the meeting with my mother’s estate’s executor, and I was numb, cold, and scared. But at least there was a will. If the executor did not have her will, it would have been so much harder, scarier and sadder.
If you would like to speak to someone who could help you with this, contact us and I know some nice people who can help you sort this out. It is not a nice experience to discuss with someone what to do with your assets and who inherits what, but it is so important, and it will make the lives of your family so much easier at an already difficult time.
Make sure your financial affairs are in order. Tell your partner (if you have one) what you have and where. It’s even better if you can store the information somewhere they can easily put their hands on it. If you have a financial advisor, it’s a good idea to introduce your partner or family to them so that they can assist your partner should something happen.
If you are stuck with anything, phone a friend. Don’t get overwhelmed and frustrated. Just think ‘who can help with this type of thing?’ and reach out.
We had to sell a house, pack a container and cancel most expenses in two and a half weeks. I simply could not have done this without the assistance of people that know people or businesses that can help. It was amazing how everyone came together and made it all happen.
And the last but most important lesson I have learnt is that even in the saddest of times, there is light. There is something to be positive about. Something to wake up for. My dad has taught me that. And it is so amazing to have my daddy with me and the family.
Thank you again to all my wonderful clients who have sent messages and checked in on me.
SMAWH (kisses)
Tax Update
Provisional tax is due again end of August 2021. This is the first provisional tax for individuals that are required to submit provisional tax, and companies that have a February year end.
Please note that if we have not received your information by 12 noon on the 31st of August, we will be unable to submit your return. This is only to ensure we get your return submitted in time and calculated correctly
Kindly please send us your provisional tax information before the end of August to avoid penalties and interest.
You will know if you are registered by either:
Asking your tax-practitioner
Phoning SARS on 0800 00 7277
On your latest tax assessment, you will see a “Y” next to “registered as provisional taxpayer”
If you are a company or closed corporation, you are most definitely registered for provisional tax
Who should be registered as a provisional taxpayer?
Employees earning any other income except salary, i.e., rental income, drawings from a business, business income, consulting income, interest income, dividend income, capital gains etc.
Any person that SARS says is registered
All companies and closed corporations
Working With Non-Profits 😊
We as a company realised something important this week; we work with a lot of charities and non-profit organisations. That made us really proud, and we thought we will share some insights about working with non-profit organisations.
It really is true what they say, that where the heart goes, the mind will follow. Esmerelda and I have been talking for quite some time about how we want to make Anlo into a company that does good. Obviously, we believe in the service we provide and that it helps so many businesses across Gauteng and now even Edinburgh, but we would like to see our skills shine through and help the community
Non-profit organisations and charities provide such an important service to our communities, and therefore it is important that they have proper accounting records as well as funding reporting to help management and funders do what they do best.
There are a few things that are a bit different about non-profit organisations - their income often comes in the form of money or grants to provide a service function and there are reporting requirements on this income. Contributors often want to see that their funds are used for what was intended for, and the only real way to do this is through thorough, ethical accounting and record keeping.
We work with the treasurer to ensure that the accounts are not only allocated correctly, but that the transactions are also allocated to the correct projects. This helps management understand how projects within the organisation are doing and if additional funds need to be sought.
The tax returns for non-profit organisations are also prepared based on their accounts, and this is where it is important to understand if the non-profit organisation (NGO) is also registered as a Public Benefit Organisation (PBO) for tax purposes. If the entity is also registered for PBO status, it can issue section 18A certificates to its donors.
The organisation does not need to be an NGO to be a PBO and vice versa.
To qualify for registration as a PBO the organisations primary objective must be one or more of the following Public Benefit Activities listed in Part 1 of the Ninth Schedule to the Income Tax Act:
welfare and humanitarian
health care
land and housing
education and development
religion, belief or philosophy
cultural
conservation, environment and animal welfare
research and consumer rights
sport
providing of funds, assets or other resources
The reason I brought non-profit organisations into this newsletter, is to tell our lovely customers that we love working with charities and non-profit organisations, and if you know of any that could use our help, please get in touch.
