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Channel your festive season giving to where it matters
The festive season offers many opportunities to give time, goods and other resources where it can make a positive impact – not only during the holidays but also beyond that.
The festive season is a season of giving in many places around the globe
People celebrate Hanukkah, Christmas, the Chinese New Year and other holidays during this period. It is a season when people are more eager than usual to give to others, including family, friends, colleagues and even strangers. It’s therefore not surprising that December is one of the busiest times of the year for non-profit organisations as charitable giving increases.
The act of giving, whatever the scope of the gesture, is rewarding for both the giver and the receiver
Impulsive giving can be highly rewarding. Charity can boost both mental and physical health. Research shows that those who volunteer live longer, happier lives. So, whether you give your time or money, the act of giving comes with a host of benefits for body and mind, including the following:
- Lower blood pressure
- Lower stress levels
- Less anxiety and depression
- Increased self-esteem
Here are a few helpful tips for getting started with giving
If you cannot make a financial donation, start by giving away some items from around your home to a registered public benefit organisation (PBO). Here are a few suggestions:
- Donate books, stationery and school clothes to a children’s charity.
- Donate toys to a festive season toy drive for kids who generally don’t have toys to play with.
- Donate canned food to a local food bank or shelter, or even prepare meals they can serve.
You can also give your time by volunteering where there is a need or contribute to causes you care about
Here are some examples:
- Conservation – Look for opportunities at relevant organisations such as those involved in a beach clean-up.
- The elderly – Offer your time to a retirement home or assisted-living facility in your area, running errands, reading to them or simply keeping them company, especially those who don’t have family close by during this festive season.
- Animals – Volunteer to exercise, groom or play with the animals at your local animal shelter, or help clean the premises or donate essentials.
Financial donations to registered organisations are tax-deductible
According to section 18A of the Income Tax Act, 58 of 1962, donations made to registered PBOs are tax-deductible, up to certain limits. To claim the tax deduction, you must give the details of the organisation and donation in your tax return.
Another reason to donate to a registered PBO is to ensure your money has the impact you intend it to have and that it goes to the right cause. Registered PBOs must provide proof to Sars that they are using their funding for the intended purpose. Take the time to research the organisation you intend to donate to and to check their credentials.
Donating is quick and easy with Nedbank Greenbacks
You can use your Nedbank Greenbacks to donate to an affinity, community or the Solidarity Fund.
If you are interested in having a long-term giving strategy, we have the expertise to help
Our philanthropy team has the experience and expertise to help you make the most of your giving: in 2020 we won the philanthropic advice category in the Euromoney Private Banking and Wealth Management Survey for the fifth consecutive year.
Whether you:
- are giving as an individual or family and want to ensure your giving is well structured and sustainable;
- want to review or refine your business’s corporate social investment strategy; or
- need advice and support to ensure the financial resilience of your non-profit organisation, our globally integrated advice and expertise can help you.
Find out more about our philanthropy services here.
Want to know more?
- Speak to your wealth manager if you are interested in connecting with our specialist philanthropy team.
- Not yet a client? To benefit from our expert advice, contact us on 0800 111 263 or complete an online form, and we will call you back.
