Art & Entertainment | Book Reviews | Education | Entertainment Video | Health | Lifestyle | Sport | Sport Video | Search

 

A More Generous Nation Predicted


A More Generous Nation Predicted

For immediate release

 

Philanthropy New Zealand predicts an increase in giving will result from a tax change that comes into effect today.

The change means the tax rebate cap for individuals, companies and Maori authorities has been removed. 

Philanthropy New Zealand’s Executive Director says removing the cap means New Zealanders have a greater opportunity to be more generous, as they receive a larger rebate.

“For example a $5,000 personal donation will receive a $1665 tax rebate instead of the previous $630 or if you give $200,000 you will receive a $66,600 tax rebate, that was previously $630.”

Ms Scott says the Giving New Zealand research, released last year by Philanthropy New Zealand, shows there is room for improving our generosity as a nation.

Although approx. $1.3 billion dollars was given away in 2005/2006 only 1/3rd of that came from personal donations. The rest is made up from Statutory Trusts and Foundations

Philanthropist Helena Francis is strongly supportive of any moves that encourage New Zealanders to give back to their communities.

“We certainly need more people to be doing it, so removing the cap is a great first step. There is a lot of very good work happening at the coal face around New Zealand, much of it at the cutting edge; risky work that can claim success but requires philanthropic funding.

“Since setting up our family trust we’ve really felt like we are making a difference to individuals and organisations that help those not as fortunate as ourselves. Our role is to provide that much needed cash for ongoing good work that might not otherwise attract funding, because of regulatory or political constraints.” 

Ms Scott says business giving has a lot to gain from this law change as well, “they no longer need to be tied to sponsorship arrangements. Businesses can now give up to the limit of their income bringing them into line with individual giving. The Giving New Zealand research shows only 7% of businesses gave in the 2005/2006 financial year, so there is room for improvement there.”

Ms Scott adds today’s law change recognises the great  value the community and voluntary sector returns to New Zealand communities on a daily basis.  “Today is a great day to be generous,” she says.

Ends

 


 

 

 

 

 

 

 

 

 


 

© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Oscar Buzz: Waititi's Jojo Rabbit Wins People's Choice Award At Toronto

Taika Waititi's new film Jojo Rabbit has nabbed the coveted Grolsch People's Choice Award at the close of Toronto International Film Festival. More>>

ALSO:

Broken Estate: An Expat Expert Surveys Our Media

Melanie Bunce cut her teeth in journalism at the Otago Daily Times. Now she teaches and researches it at one of the UK’s most prestigious journalism schools and tracks the trends that shape the uncertain future of news... More>>

Controversial Reforms: Te Papa Chief Executive To Step Down

Te Papa’s Chief Executive Geraint Martin announced today he will step down from the role at the end of the year. Mr Martin said he had achieved what he set out to do at the museum, and Te Papa was in a strong position for the future. More>>

ALSO:

A City Possessed: New Edition Of Book Coincides With Ellis Case Appeal

Originally published in 2001, A City Possessed is the harrowing account of one of New Zealand’s most high-profile criminal cases – a story of child sexual abuse allegations, gender politics and the law. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
  • Wellington
  • Christchurch
  • Auckland