charities tagged posts

Greenpeace Told to Reapply for Tax Exempt Status

September 5, 2012 New Zealand Taxation

Charity workGreenpeace should lodge a new application for tax-exempt status, if it wishes to be considered to be a charity.

At a hearing at the Court of Appeal on September 4th the legal representatives for the non-profit environmental organization Greenpeace said that the group should not be registered as a charity as it is too political and has been involved in illegal activities.

Greenpeace is currently taking legal action to challenge a decision made last year by the New Zealand Charities Commission to strip the environmental group of its status as a charity, as the organization was considered to be too political to be counted as a charity and has also been involved in illegal activities.

The Court and Greenpeace were told that if the group wishes to obtain charity status again, it should submit ...

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Charity Named For Interest Free Student Loans

February 23, 2010 New Zealand Taxation

United Future AnnouncementThe Revenue Minister has stated that New Zealanders who are undertaking overseas work for Partners Relief and Development NZ may now be eligible for an interest-free status on their student loans.

In an effort to foster a greater sense of charitable work amongst New Zealanders, Peter Dunne, New Zealand Revenue Minister, announced on February 23rd that individuals who are working overseas for Partners Relief and Development NZ will now be eligible for an interest write-off on their student loans. The change is scheduled to come into effect on April 1st.

Typically, student loans are charged interest when an borrower works outside of New Zealand, and an individual is required to reside within New Zealand for at least six months to receive an interest-free student loan; exceptions apply when t...

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Imputation Credit Expansion

August 19, 2008 New Zealand Taxation  No comments

The New Zealand Government has released discussion documents which call for comment on the current system, proposal for change, and invitation for system suggestions.

Current imputation credit regulation allows for New Zealand shareholders to offset their income tax obligation with imputation credits attached to the dividends they receive from a New Zealand income tax paying company. These rules do not currently extend to tax-exempt entities or charities, as they have no income tax obligation which needs to be offset. As this means that unutilized imputation credits are effectively wasted when dealing with tax-exempt entities, there have been numerous calls for revisal of the system.

The New Zealand Government has not ruled out the possibility of imputation credit refunds for tax-exempt en...

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