Some great new research into how generous kiwis are has recently been released and shows that our giving is increasing. New Zealanders have doubled their donations to charitable causes in the past six years, a new report has revealed.
The Giving New Zealand’ Philanthropic Funding Report 2011 commissioned by Philanthropy New Zealand, shows that New Zealanders gave about $2.67 billion to charitable and community causes during 2011, compared to $1.27 billion estimated in a previous study in 2006.
This report is a fascinating insight into giving in New Zealand, and showed that personal giving is higher, at 58%, and totalling $1.54 billion, than giving by Trusts and Foundations at 36% totalling $970 million. Business lags well behind and only gives 6% of New Zealand’s total. New Zealanders will be pleased to know that for overall giving, New Zealand ranked second behind the USA in the group that includes Canada, Australia, UK, USA and New Zealand. Dramatic recent increases in Payroll Giving as a vehicle for giving were also noted.
The good news for generous kiwis is that the donation rebate limit for giving to charities has been removed means that individuals can now give up to a maximum of their annual net income and receive a 33.3% tax credit. The other major recent change saw all businesses no matter how small also able to give to charities and claim a 33.3% tax credit. Interestingly the study found that only approximately 40% of those who donate actually claim their tax credits.
The team at Hayes Knight have recently assisted Philanthropy NZ with updating their giving toolkits (see www.giving.org.nz ) : Grantmaker’s toolkit, A tool for strategic philanthropy, Setting up a charitable trust and more.
Your advisor at Hayes Knight would be happy to talk to you about your giving aspirations.