Payroll Giving generates millions for NZ charities

In July 2011, Payroll Giving donations  hit $3 million since the scheme’s inception 18 months prior.

More than 1000 employers have now signed up for Payroll Giving.

 The scheme is growing as New Zealanders become more aware of it and how simple it is.

 The Telecom Foundation is the company’s new umbrella organisation for all of its charitable and community-based initiatives.

 Mr Dunne said he hoped that other major New Zealand companies would follow Telecom’s lead and sign-up to the scheme.

Payroll Giving allows workers to donate automatically from their pay to a chosen charity from a list approved by Inland Revenue. The employee then gets their tax credit each payday instead of having to make a claim at the end of the tax year.

Payroll giving is available to all employers who file their Employer Monthly Schedules to Inland Revenue electronically and is completely voluntary.

 Further information on Payroll Giving can be found at http://www.ird.govt.nz/income-tax-individual/tax-credits/payroll-giving/