Organisation approved for charitable donee status

Section KC 5(1) of the Income Tax Act 2004

Habitat for Humanity New Zealand Limited has been granted charitable donee status from the 2005-06 tax year.

Donations made to this organisation will entitle individual taxpayers to a rebate of 33 1/3% of the amount donated. The maximum rebate for all donations is $630 per annum.

A non-closely held company, or a closely held company which is listed on a recognised stock exchange, will be entitled to a deduction from its net income to a maximum of 5% of that income.

A Maori authority may also claim a deduction from its net income. The maximum deduction for a Maori authority is 5% of its net income donated to charitable organisations and/or a body that has been defined as a Maori association under the Maori Community Development Act 1962.