Taskforce endorses tax incentives for charitable giving
Revenue Minister Peter Dunne welcomed recommendations by the Cultural Philanthropy Taskforce endorsing recent changes to the tax rules to encourage New Zealanders to give more generously to philanthropic causes.
“New Zealanders are generous in giving money and time to support the work of charitable and philanthropic causes in our communities.
“Changes to make the tax rules more favourable to donors have already done much to further encourage this generosity by giving people greater tax benefits on their donations, and making it easier for them to donate through employer-based payroll giving.” Mr Dunne said.
“In particular, I welcome the Taskforce’s interest in furthering work on gift aid, where the benefit of charitable donations goes directly to the charitable organisation rather than the donor.
“Further work is also underway on looking at how payroll intermediaries might be used to make it easier for employers and their staff to donate on a regular basis, and a review of the donee status for overseas-based organisations to make the system more transparent for everyone involved,” he added.
“I look forward to working through these initiatives to meet the challenges presented by the Taskforce to provide a more favourable tax environment for donors and the organisations and communities they choose to support.”
See http://www.scoop.co.nz/stories/PA1012/S00341/taskforce-endorses-tax-incentives-for-charitable-giving.htm for the complete press release.