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More good news for charities
Friday, 18 May 2007
More good news for charities
Revenue Minister Peter Dunne says the KiwiSaver changes announced in Budget 2007 will bring further benefits for New Zealand charities.
"The question has been raised as to whether charities, which pay no tax, will be eligible to receive KiwiSaver tax credits, if their employees join KiwiSaver.
"The answer is an unqualified 'Yes'. Both the employees and the employer will be able to get the tax credits as an offset against their PAYE obligations," said the Minister.
"This benefit to charities is on top of the expected increase in their income from greater donations, now that the cap on tax rebates for charitable donations has been removed.
"Taken together this Budget's United Future-inspired initiatives for the charitable sector are the most positive steps in years towards promoting a culture of giving in New Zealand," he said.
Ends
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