A Word on Charitable Donations

You may already be aware that charitable donations can be used to get a tax refund. Every receipted donation over $5 can be listed on the IR526 form

person holding pink piggy coin bank

Photo by rawpixel.com on Pexels.com

Here’s the summary from https://www.ird.govt.nz/income-tax-individual/tax-credits/donations-taxcredits/donations-taxcredits.html You have:

  • made a donation of $5 or more to an approved donee organisation where the payment is voluntary and there is no identifiable direct benefit to you or your family in return for making the payment
  • earned taxable income (such as salary or wages, benefit, NZ Super, self-employed income, interest and dividends) during the year you’re claiming for
  • were resident in New Zealand at any time during that tax year, and
  • are an individual (not a company, trust or partnership)

Bluntly, people are unlikely to do this for many of our donations. Dropping coins or a note in a bucket or donation box will *never* be accompanied by a receipt request. Even card gifts on EFTPOS will return an informal receipt which would not meet the criteria for tax benefits.

But here’s the good news.

All charitable donations via Givahoy are made through the Giving Technology Charitable Trust. This is a registered charity (number CC55071). (Other great organisations like the One Percent Collective and The Gift Trust use a similar model for more regular giving)
This means that if you give just $5 per month to a variety of charities, you’re donating $60 a year. You can get $20 back. Treat yourself, get necessities, give again: It’s your money, your choice.

If you are dropping $5 a week, that’s $250 per year – over $80 in refund.

Why not help your family give this way and collect all the receipts? Why not encourage your school, church or society to collect this way and help everyone?

So Givahoy is a free app that gets you money. Why would you not give?

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