05 Feb 2025

Unlock your 33% tax credit – give and get your tax back

Unlock your 33% tax credit – give and get your tax back

As your local community foundation in the Western Bay of Plenty, we want to help you make the most of your charitable giving. Many of our donors don't realize that New Zealand's tax system actively encourages philanthropy through a simple yet powerful incentive: a 33% tax credit on donations*.

Here's how it works: When you donate through Acorn Foundation, you can claim back one-third of your donation through a tax rebate. For example:

  • A $30 donation = $10 credit
  • A $300 donation = $100 credit
  • A $3,000 donation = $1,000 credit

This tax credit effectively amplifies your giving power. By reinvesting your tax credit into causes you care about, you can create an even bigger impact in our Western Bay of Plenty community.

Why does this matter? New Zealand's tax incentive system helps foster independent, community-driven philanthropy. It's simpler than many other countries' systems – for instance, Australia offers 100% deductions, Canada has a two-tiered system, and the UK uses Gift Aid to increase donations by 25%.

Making your claim is straightforward. You can either:

  • Submit your donation receipts throughout the year via your 'myIR' account
  • File a tax credit claim form (IR526) from April of the following year

Pro tip: If you haven't claimed your tax credits recently, you can go back up to four years – currently covering tax years 2021 through 2024.

At Acorn Foundation, we believe it's important to make the most of this opportunity to strengthen our community. Whether you choose to donate to your current fund, give to a Community Group Fund or give to the Vital Impact Fund, every contribution helps build a thriving Western Bay of Plenty where people have dignity, opportunity, and a sense of well-being.

*Up to the level of income tax paid.

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