It’s a great time to consider any charitable donations made throughout the year. In New Zealand, individuals can claim tax credits for donations made to approved Donee Organisations which includes school fees and often home and school associations.
You can claim back 33.33% of the total donations made, provided they exceed $5, up to the total amount of your taxable income. This means if you donate $300, you can potentially receive a tax credit of $100.
To make sure you maximize your entitlements, we encourage you to keep a record of donations and provide them to us when submitting your records. This small effort can lead to significant tax savings, making your generosity even more rewarding.
We can guide you through the process of claiming your tax credits—get in touch with us today.
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