Taxation (savings investment and miscellaneous provisions) Act 2006 and Taxation (annual rates of income tax 2006-07) Act 2006: Organisations approved for charitable donee status
Organisations approved for charitable donee status
Section KC 5(1) of the Income Tax Act 2004
The following organisations have been granted charitable donee status from the 2006-07 tax year.
- Children on the Edge (NZ) Trust
- DIPS'N Charitable Trust (International)
- The New Zealand Council of the Ramabai Mukti Mission Trust Board
- Waterharvest Trust
- Zonta International District 16 (New Zealand) Charitable Trust
Donations made to these organisations will entitle individual taxpayers to a rebate of 33 1/3 percent of the amount donated. The maximum rebate for all donations is $630 per annum.
A non-closely held company, or a closely held company which is listed on a recognised stock exchange, will be entitled to a deduction from its net income to a maximum of 5 percent of that income.
A Maori authority may also claim a deduction from its net income. The maximum deduction for a Maori authority is 5 percent of its net income donated to charitable organisations and/or a body that has been defined as a Maori association under the Maori Community Development Act 1962
Other sections in this legislation
| Offshore investment | Tax rules for PIEs | Tax on geothermal wells | Australian superannuation fund exemption | New rules for selecting SSCWT rates | Allowing documents to be removed for inspection | Military and police allowances | New rules for spreading income on the sale of patents | Organisations approved for charitable donee status | Consolidated groups and foreign losses | Assessments by the Commissioner | GST and financial services | GST on fringe benefits | GST grouping rules | Taxation of business environmental expenditure | Family assistance provisions | Rewrite amendments | Tax depreciation treatment of patents | Fringe benefit tax | Depreciation formula | Economic rate of depreciation | Calculating depreciation rates | Election to depreciate | Transitional residents | Death and asset transfers | New GST due date | Limit on refunds and allocations of tax | The imputation system and companies | Reverse takeovers | Changes in GST taxable periods | Miscellaneous technical amendments |
Date published: 08 Nov 2006
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