donation tagged posts
March 9, 2011 New Zealand Taxation
The Revenue Minister has revealed that New Zealanders will now be able to donate to Christchurch through their annual tax returns.
On March 8th the New Zealand Minister of Revenue Peter Dunne gave a speech to the Tax Agents Institute of New Zealand, regarding the government’s current outlook on the tax system. During his speech, the Minister unveiled a new method of donating to the recovery of Christchurch.
The Minister said that last year New Zealanders claimed tax credits of NZD 154 million for donations they had made. He stated that when taxpayers come to file their upcoming annual tax returns, they will now have the option of redirecting part of their tax credits to the government’s Christchurch Earthquake Appeal. Peter Dunne described the system as “a kind of gift aid scheme”.Read More
In 2010 more New Zealanders opted to do volunteer work in their communities then in 2009, however this was offset by decreases in donations of money and goods.
On September 15th Tariana Turia, Community and Voluntary Sector Minister, announced the release of How do New Zealanders Give? – Quarterly Generosity Indicators, a report on the volunteer and donation habits of New Zealanders by the Office for the Community and Voluntary Sector (OCVS).
The report showed that 30.3 percent of New Zealanders chose to volunteer their time in local community causes. The figure represents a 2 percent increase over the December 2009 quarter. The median time spent volunteering per month also increased by 2 hours to a total of 10 hours, over the latest quarter.
During the March 2010 quarter 40...Read More
January 6, 2010 New Zealand Taxation
New Zealanders can now receive automatic tax credits for their charitable donations.
From January 7th donations made automatically from an employees pay package will be eligible for automatic tax credits, bypassing the previous system of end of year claims. Employees will receive a third of the donation amount back through a PAYE tax credit. Describing the ease of use of the new system Peter Dunne, Revenue Minister of New Zealand, said “…it’s really convenient for workers, is low-cost and effective for charities, and helps employers and their staff become more engaged with the community”.
The new law was enacted in the Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill, which received Royal assent on October 6th...Read More