Strate Charity Shares (SCS) is registered as a non-profit organisation and charity donation programme that was created almost 15 years ago to address the long-standing problem of investors holding small amounts of unwanted shares. Since 2002, SCS has paid more than R6 million to charities dedicated to helping children. It hands donations to charities across South Africa that are dedicated to feeding, raising and educating children.
Investors who want to dispose of these unwanted shares to neaten up their portfolios have previously been deterred by the cost of selling them. As a result, thousands of rands are tied up in assets that cost more to sell than they are worth, and portfolios are left in an untidy state.
Donate Equities and Bonds
A solution is for clients to donate their shares to charity by contacting SCS, either directly, or through their broker. Given the success of share donations, SCS will be enabling investors to include bond donations as well. Investors will be able to dispose of bonds as securities to neaten up their portfolios, as well as receive a tax benefit for doing so. In terms of Section 18(A) of the Income Tax Act, when investors donate their shares to SCS, they are issued a receipt that can be claimed against their taxation liability.
The people and companies involved in SCS all give their time and labour free of charge. Charities that have historically been the recipients of these donations are the African Children Feeding Scheme; Bethany House Trust; Child Welfare Tshwane; Cotlands; Guild Cottage; Nazareth House; Salesian Life Choices; Topsy Foundation and Zisize Educational Trust.
For more information regarding SCS, visit http://www.strate.co.za/people-culture-community/strate-charity-shares.
If you wish to donate your equities and bonds to SCS, please call the toll-free helpline on 0800 202 363, or +27 (0)11 870 8207 if you are phoning outside South Africa. Alternatively, you can email firstname.lastname@example.org.