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Tax rebates
Tax rebates on donations
The IRD tax rebate policy rewards donors for their generosity and in some cases it has enabled supporters to donate more in any one year. Budget 2007 removed the caps on the dollar amounts of charitable donations eligible for tax relief.
As of April 2008, individuals can now 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.
Previously, the maximum rebate available to all tax paying individuals was $630 for donations of $1,890 or more that had been made in any one year.
We are very pleased to note the removal of the cap on charitable donations rewards the many loyal supporters of the Cancer Society who have traditionally donated above the rebate threshold and of course it encourages everyone across the board to donate more by planning gifts over time if their circumstances allow.
We are also encouraged to see the value of charitable giving in New Zealand being acknowledged in this way and the Cancer Society agrees it also shares some responsibility in providing new ways for valued supporters to donate to our cause.
The end of the financial year is a time when we encourage all donors of the Cancer Society to claim their rebate.
How to claim your rebate
To claim your rebate you must obtain a copy of the IRD rebate claim form which can be downloaded from the Inland Revenue website or by calling Inland Revenue.
Once the IRD Rebate Claim Form (IR 526) has been filed, this same form will be mailed by the IRD automatically each year to assist with future rebate claims.
Further information:
- Cancer Society Charitable Taxation Statement
- IRD website
- IRD rebate claim form
- Phone the IRD Info Express line 0800 257 773
