Source: New Zealand Government
Consultation on an Inland Revenue Issues Paper on the taxation of charity and not-for-profits opens today.
Finance Minister Nicola Willis says the Government is committed to a strong charity and not-for-profit sector, as well as high levels of fairness and integrity in New Zealand’s tax rules.
“New Zealand not-for-profits make a significant contribution to the community, and the Government provides tax relief for not-for-profit organisations that meet certain requirements.
“It’s important the public has confidence they are getting value for money from these tax concessions.”
Revenue Minister Simon Watts says the Issues Paper canvasses options to “simplify rules, reduce compliance costs and address tax integrity risks”.
“It’s important we make sure the settings are right and fit-for-purpose.”
“No decisions have been made and all feedback will be considered.”
The discussion document discusses and seeks public submissions on charity business income tax exemption, donor controlled charities, and integrity and simplification.
The consultation document can be found here. Consultation closes on March 31 2025.
