INDEPENDENT NEWS

Dunne: Payroll Giving hits $2 million milestone

Published: Sun 10 Apr 2011 01:24 PM
Hon Peter Dunne
Minister of Revenue
Sunday, 10 April 2011 Media Statement
Dunne: Payroll Giving hits $2 million milestone
Payroll Giving to New Zealand charities has hit the $2 million milestone in just 15 months, Revenue Minister and the architect of the scheme, Peter Dunne, said today.
“The scheme raised $1.4 million for charities in its first 12 months to January this year, and it has really taken off with a further $600,000 in the first three months of this year.
“This scheme is a win-win for all concerned,” Mr Dunne said.
“I pushed for it for years and it is really gratifying to see it taking off the way it has, and being of huge benefit to New Zealand charities.”
He said an important aspect of the scheme now was that people could make donations to the Christchurch Earthquake Appeal through it.
Under payroll giving, people donate automatically from their pay to their chosen charity from a list of donee organisations approved by Inland Revenue. The employee then gets their tax credit each payday instead of having to wait until the end of the tax year to make a claim.
“The charities reap the benefit, employers help make a difference in their communities by giving their workers the chance to participate in the scheme, and people can donate in a simple, straightforward way and get a tax credit straight away,” Mr Dunne said.
“As I have said before, the scheme is incredibly simple, very low cost and effective for the charities.”
Payroll giving is available to all employers who file their Employer Monthly Schedules to Inland Revenue electronically and is completely voluntary. These schedules provide Inland Revenue with details of employees’ gross earnings, PAYE payments and other deductions.
Ends

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