Tax benefits for charitable giving — Philanthropy New Zealand

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Tax Benefits For Charitable Giving

The tax system encourages charitable giving by offering tax benefits for both individual and corporate giving.

Individual charitable donations – including those made through payroll giving – are eligible for tax credits.

Corporate donations are eligible for tax deductions.

In both cases, the donations must be made to an approved donee（https://www.ird.govt.nz/income-tax/income-tax-for-individuals/individual-tax-credits/tax-credits-for-donations）.（http://www.ird.govt.nz/non-profit/np-donee/np-donee-index.html）

Individual donations

Individuals can claim a 33.33% tax credit for all donations over $5 they make to an approved donee. A tax credit reduces the amount of tax you have to pay.

The maximum tax credits an individual can claim is capped at:

· 33.33% of your total donations

· 33.33% of your taxable income.

Most approved donees are registered as charities by Charities Services（https://www.charities.govt.nz/）.

Some overseas aid organisations are also approved as donees. You can check the donee status of an organisation on the IRD website（http://www.ird.govt.nz/non-profit/np-donee/np-donee-index.html）.

To claim your tax credit you need to complete an IR526 and send it to the Inland Revenue Department with your donation receipt within four years of making the donation.