Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010: Charitable donee status

Charitable donee status
Schedule 32 of the Income Tax Act 2007

Cure Kids is recognised as a charitable donee organisation from the 2010-11 tax year.

Individuals who donate to charitable donee organisations are entitled to a donations tax credit of 33⅓ percent of the amount they have donated, up to the level of their taxable income. Companies and Māori authorities that donate to charitable donee organisations are entitled to a deduction for donations up to the level of their net income. The maximum amount that may be claimed for donations to any qualifying organisation is set out on page 98 of Tax Information Bulletin Vol. 20, No. 3, April 2008.

Application date

The amendment applies from the 2010-11 and later income years.

Date published: 05 Nov 2010

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