From RNZ · RNZ | Te Reo Irirangi o Aotearoa · · 40s
ACT Party to Remove Charitable Tax Cap
ACT Party pledges to scrap donations tax-break limit to boost charity sector.
In brief
ACT Party pledges to scrap donations tax-break limit to boost charity sector. ACT Party will remove a cap on charitable donations receiving tax benefits to encourage generosity, reducing government revenue by $15 million annually while injecting $57 million into charities. Originally reported by RNZ.
ACT Party Policy
ACT Party promises to scrap a cap on charitable donations receiving tax benefits to encourage generosity.
Tax Impact
The policy reduces government revenue by $15 million in the first year and $19 million annually.
Charity Boost
The policy injects $57 million annually into the charity sector to support cancer care and other causes.
What it means
ACT Party will remove a cap on charitable donations receiving tax benefits to encourage generosity, reducing government revenue by $15 million annually while injecting $57 million into charities.
