Now read this:
Bold charity tax policy announced Tuesday, 27 February 2007, 11:48 am Press Release: New Zealand National Party John Key MP National Party Leader 27 February 2007:
“National’s bold new tax policy on charities shows a National government will support private giving and is serious about backing groups doing important work in our communities, says National Party Leader John Key.“This policy will give a big boost to the giving tradition in New Zealand. We want to encourage that culture of giving.”
The policy will:
– Remove the $1,890 cap on charitable donations. Donations of any amount, up to an individual’s total net income, will be eligible for the 33.3% rebate.
– Remove the 5% cap on the level of donations that can be deducted…
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