Tsunami Spurns Charity Tax Reminder
October 5, 2009 New Zealand Taxation
Prompted by an influx of donations for the Samoa tsunami relief, the IRD has reiterated their policy regarding donations.
Robert Russell, Commissioner of Inland Revenue, has made statements reminding those making donations to tsunami stricken Samoa that they could be eligible for a tax refund. Robert Russell believes that many of those who are making donations are unaware that they are able to claim a refund on their donation.
Further, it was emphasized that there is no longer an upper limit on the amount that can be claimed back from a tax donation. As long as the donation is lower than the individual’s annual taxable income and above $5, they would be able to claim a third of the amount donated, if receipts are kept.
The complete list of refundable charities can be attained from the IRD, along with the necessary refund claim information.