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Associations: Funding requirement
- 15 November 2022
- Tax Administration
- SARS
The purpose of this Note provides guidance on the interpretation and application of the “funding” requirement contemplated in section 30B(2)(b)(ix), requiring that substantially the whole of an entity’s funding must be derived from its annual or other long-term members or from an appropriation by the government.
This Note considers only the “funding” requirement and does not consider any of the other requirements required for approval under section 30B(2) for purposes of the exemption from income tax under section 10(1)(d)(iii) or (iv).
Source: SARS
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