Tax Credits (formerly Rebates)
Tax credits can be claimed by individuals (not companies, trusts or partnerships) who:
- Earned taxable income during the period being claimed for; and
- Were in New Zealand at any time during the tax year (including non-residents)
You may qualify for a tax credit for:
- Donations made of $5 or more to an approved charity
- Donations made of $5 or more to state and state integrated schools (note donations do not include tuition fees, payment for voluntary school activities, payments for classes where there is a take-home component or payments for transport to or from school activities)
The tax credit able to be claimed is up to the lesser of 33.33% of the total donation or 33.33% of your taxable income and will require valid receipts. Tax credits for payments for childcare or a housekeeper have been removed from 1 April 2012.
For further information regarding tax credits, visit the tax credits section of the IRD website.
If you claimed a tax credit in the prior year, the IRD will automatically send you a Tax Credit Claim Form in April each year. Otherwise, click here for the latest version of the IR526 Tax Credit Claim Form. The easiest way to submit a receipt for a donation is to use myIR. Inland Revenue will work out your tax credit without you having to file a claim when the tax year ends on 31 March.
This information relates solely to individuals and individual income tax. There are other types of tax credits for other entities. Please contact our office for more information on these.
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