Overview

Public Benefit Organisations are a vital cog in the functioning of any compassionate society. They provide the means to support society in a way that for profit entities are not designed to do. As such, they are incredibly important. However, as they rely on the goodwill of others, they are often staffed with volunteers who may not have significant administrative or legal experience.

These entities are also generally subject to less regulatory restrictions and have significant tax breaks granted to them as well as easier access to other jurisdictions. This also means that PBO's are often used for nefarious purposes such as money laundering, smuggling of goods, as well as tax evasion. This leaves regulators in a quandary - how to make the regulatory environment simple enough for volunteers to be able to administer cost effectively, while still curbing the dark side of PBO abuses.

The session discusses the complex tax compliance landscape for Public Benefit Organisations (PBOs) and aims to equip participants with the necessary knowledge to ensure their PBOs operate within legal frameworks, safeguarding their mission and integrity.

Webinar Content

1. Primary Requirements for Registration as a PBO:
   • Eligibility criteria and necessary documentation.
   • Specific regulations governing PBO registration.
2. Annual Compliance Requirements:
   • Mandatory filings and documentation.
   • Reporting standards and deadlines.
3. Consequences of Non-Compliance:
   • Potential penalties and legal ramifications.
   • Impact on the PBO's operational status and reputation.
4. FIC Concerns:
   • Overview of Financial Intelligence Centre (FIC) concerns.
   • Measures to prevent money laundering and financial abuse within PBOs.

Competencies Development

• Detailed understanding of who can become a PBO and the necessary qualifications.
• In-depth knowledge of the responsibilities and duties of PBO office bearers to maintain compliance.
• Awareness of the legal and operational consequences if a PBO fails to meet its compliance requirements.

Presenter

Carmen Westermeyer

BCom(Honours Accounting) [UND] CA(SA)

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC, where she remained until 2006. She has been a member of SAICA since then.

In 2008, she started her academic career at UKZN, where she performed a number of functions, taking on the role of Academic Leader for Taxation. On leaving academia in 2013, Carmen has been providing training and consulting services to the profession. She has presented on behalf of various professional bodies, such as SAICA, FASSET, CSSA as well as providing in-house training to numerous accounting firms. The topics covered include all aspects of income tax, VAT, estate duty as well as the health levy (sugar tax). In addition, she regularly consults on tax matters as well as assisting with SARS disputes.

She is also the Chair of the SAICA Eastern Region Tax Committee, a member of the SAICA National Tax Operations Committee and is an Accounting Member of the Tax Court.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of Tax CPD.

Event Investment

Free for Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R460.00
• Special rate for SAIT members:  R368.00
• Group booking discounts available when you register for a group.

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Tax Faculty's bank account.
• Cancellations:
  • Only written notice of cancellation will be recognized.
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Tax Faculty`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.