TMNZ helps donors claim donation rebates

Tax Management NZ has teamed up with well-known charities to help their donors claim more than $200 million in unclaimed donation rebates.

The charities are Mental Health Foundation, KidsCan, Starship Foundation, Tearfund, Forest & Bird and Rhema Media.

TMNZ will process donation rebates on behalf of those who give to charity through our Smart Donation service.

Charities have recently mentioned Smart Donation when sending out receipts to donors for the 2017 tax year.

Donation rebates explained

Taxpayers who donate $5 or more to charity can claim a rebate of 33.33 percent from Inland Revenue (IRD). They need to have a receipt and taxable income for the year in which the donation was made.

Rebates can be claimed up to four years following the year in which the donation was made.

Taxpayers can keep the rebate or re-donate it to charity.

New Zealanders give more than $1.3 billion to charitable causes each year.

IRD reports that taxpayers sought a rebate on 54 percent of the total donation level recorded by the Charities Service for the tax year ended 31 March 2015. The total rebate amount paid for that year was $238.6m.

A little over $203m in donation rebates go unclaimed.

The number of taxpayers claiming a donation rebate has also fallen by almost 10 percent since 2008.

Through Smart Donation, we liaise with charities to get the necessary documentation to process the rebate for donors.

Why TMNZ’s working with these charities

As many clients know, this is not core business for us.

TMNZ is helping these charities because we have enjoyed tremendous success as a company in the past 14 years. We are also big believers in giving back to the wider community.

We are using our place within the tax system to do good. Helping more Kiwis claim their donation rebates means they can give even more to the causes they are passionate about.

More information about Smart Donation can be found here.

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