Philanthropic South Africans donate R22bn a year, says Davis Tax Committee
About 35-million South Africans over the age of 18 donate a total of R22bn a year to a wide range of recipients from faith-based organisations, schools to charities and individuals, the Davis Tax Committee has established. "It would appear that the size of the high net-worth South African market constitutes approximately 300,000 individuals, who have donated approximately R8bn in cash, R5.1bn in goods and services and 7.9-million hours of their time over the course of a year," the committee said in its report on the taxation of public benefit organisations. Its report examined whether the tax dispensation was appropriate to the needs of the country given this significant scale of philanthropy. It estimated the value of the non-profit organisation (NPO) sector at about R60bn. A further study conducted of 21 of the largest charitable foundations in the country revealed that their collective 2015 "grant-making spend" was R763.8m and on average these foundations paid out of between 4% a...
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