Strate Charity Shares (SCS), a registered non-profit organisation and charity donation programme, has received its first bond donations that will go towards supporting charities across South Africa that are dedicated to feeding, raising and educating children.
SCS was created over thirteen years ago to address the long-standing problem of investors holding small amounts of unwanted shares. 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.
While investors have been donating their shares to SCS, either directly, or through their broker, they are now able to include bond donations as well, and receive a tax benefit for doing so. In terms of Section 18(A) of the Income Tax Act, when investors donate to SCS, they are issued a receipt that can be claimed against their tax liability.
Since 2002, SCS has paid more than R3.5 million to charities dedicated to helping children. 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 email@example.com.