INDEPENDENT NEWS

Community and Voluntary Sector welcome tax changes

Published: Thu 24 Sep 2009 11:37 AM
MEDIA STATEMENT
For immediate release
24 September 2009
Community and Voluntary Sector welcome tax changes
Tax legislation passed this week promise significant benefits for the Tangata Whenua, Community and Voluntary Sector.
Payroll Giving, a key part of the legislation, enables employees to make regular contributions to a registered charity directly from their pay packets and receive tax credits via PAYE.
The legislation also confirms that expense reimbursements to volunteer workers are not classed as taxable income.
Tina Reid, Executive Director of the New Zealand Federation of Voluntary Welfare Organisations (NZFVWO) says, “The introduction of Payroll Giving will positively impact New Zealand’s Tangata Whenua, Community and Voluntary Sector organisations, many of whom rely on multiple funding streams to sustain services to the community.”
Community and Voluntary Sector organisations have been particularly hard hit during the recent economic downturn as the need for their services has increased.
Dave Henderson, Coordination of ANGOA says, “Payroll Giving has worked successfully in the UK and US for many years.
“New Zealanders are by nature generous people. The introduction of Payroll Giving gives people a mechanism for sustained giving that will benefit the communities they are part of.”
Since April 2008, individuals can claim tax rebates up to the level of their taxable income, while companies and Maori authorities can claim deductions for donations up to the level of their annual net income.
Robin Gunston, National Director of Prison Fellowship says, “The introduction of Payroll Giving, along with the 2008 removal of the cap on charitable donations, makes good sense for businesses as well as communities.
Tim Burns, Executive Director of Volunteering New Zealand says that, “clarity around volunteer’s expenses is long overdue.
“Now, more than ever, we need volunteers to keep New Zealand organisations running. This legislation should encourage more volunteering and give organisations employing volunteers the confidence to reimburse them for their expenses.
Ric Odom, Chief Executive of YMCA says that Revenue Minister and United Future leader Peter Dunne must be commended for his work on the legislation.
“Peter Dunne has worked tirelessly on tax changes that will benefit the Community and Voluntary Sector and New Zealand will be better for that work.”
ENDS

Next in Lifestyle

Malicious Melodrama - Todd Haynes’ ‘May December’
By: Howard Davis
The Austerity Of Quiet Despair - Wim Wenders’ ‘Perfect Days’
By: Howard Davis
View as: DESKTOP | MOBILE © Scoop Media