QB 19/10
Issued
13 Jun 2019

Donations: What is required to establish and maintain a fund under s LD 3(2)(c) of the Income Tax Act 2007?

A donee organisation can include a fund established and maintained by a non-profit entity only for providing money for charitable, benevolent, philanthropic, or cultural purposes within New Zealand under s LD 3(2)(c) of the Income Tax Act 2007. This item examines the requirements for establishing and maintaining a fund. It also sets out matters that entities must take into account when setting funds up according to the Commissioner.