Tax Incentives for Giving
Receive 33.33% tax back on all donations made to the University of Waikato Foundation for Individuals, Businesses and Māori Authorities.
Since 2008 all charitable contributions made in New Zealand are subject to a 33.33% tax rebate, no matter what your normal income tax band, up to a limit of total net income for all gifts in a given tax year. This means that a gift of $100 will only cost the donor $66.67 once the tax rebate is taken into consideration but the charity still receives the full $100!
Although tax rebates are not automatic, they are quick and easy. Simply retain your donation receipts and send them in with IRD form IR526 following the end of each tax year. For more information, and to download a form, please visit the IRD website.
Here are some examples:
|Gift Amount||Cost to Donor||Tax Rebate|
A company can now claim a tax deduction for all charitable or other public benefit gifts it makes to a society, institution, association, organisation, trust or fund of any kind. This applies to the University of Waikato. The deduction cannot exceed the amount that would be the company's net income in the corresponding tax year.
The deduction is also available to those companies that are not listed on a recognised exchange.
Māori Authorities can claim a deduction for all donations made to a Māori association and all charitable or other public benefit gifts made to a society, institution, association, organisation, trust or fund of any kind. This applies to the University of Waikato. The deduction cannot exceed the amount that would be the Māori Authority's net income in the corresponding tax year.
The 5% limit on donations made by companies and Māori Authorities no longer exists. It should also be noted that scholarships aligned with a company's core business are fully tax deductible.
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