Thursday, March 28, 2013

CBHS Camps Bay Schools Trust - 27 Mar '13

27 March 2013

Dear Parents / Guardians

Master’s Reference: IT584/2012
PBO No: 930041309

For some time now, it has been of concern that some parents of learners have been unable to afford to pay school fees, thus causing an unfair burden upon the remaining parents. After much discussion, it was suggested that a trust be created to address this shortfall and that this trust could solicit donations and undertake fundraising as required.

The object of the trust would be to assist the three Camps Bay Schools financially and to assist funding the educational costs of disadvantaged learners.

We are happy to confirm that the trust has been registered with the Master of the High Court and Letters of Authority issued to the trustees. The trustees have now also obtained tax exempt status from the Tax Exemption Unit of the South African Revenue Service and have registered the trust as a Public Benefit Organisation. This means that generous tax benefits are afforded in that the trust itself will not be liable for the payment of any income taxes including capital gains tax and donations tax.

However, more importantly, any donation which is made to the trust will not attract Donations Tax in the hands of the donor and additionally this donation will be deductible from the donor’s taxable income. In other words, the donation will allow the donor a tax deduction and similarly, will not have any negative implication once received by the trust. Likewise, any bequest in terms of a Will to the trust will be exempt from Estate Duty in the estate of the deceased benefactor.

The trustees are the three school Principals, namely Mrs Nancy Roussopoulos, Mr Stuart Collier and Mr David de Korte with two independents being Mr Chris Willemse and Mr David Knott.

The trustees will be happy to respond to any queries and will certainly be in touch from time to time to keep you informed as to the success of the trust.

The banking details of the Trust are as follows:

The Camps Bay Schools Trust,
First National Bank,
Sea Point Branch,
Business Cheque Account Number: 62363311805,
Branch Code: 201809.


Vivienne Ashcroft

For the Camps Bay Schools Trust
Tel:  021-438-1507
Cell: 082-466-8261

No comments:

Post a Comment