Because your donation will go to one of Victoria University of Wellington’s charitable trusts, you may be entitled to a tax credit or a tax deduction.
Donations from individuals
You can claim or donate a tax credit equivalent to one-third of any donations you make of $5 or more.
Claiming a tax credit
You need to submit a tax credit claim using Inland Revenue’s IR526 Form, attaching your donation receipts. We will send you an individual receipt each time you make a donation.
Donating your tax credit
If you wish to donate all or a portion of your tax credit to the University, simply enter the IRD number of the Foundation (53-511-112) or the Research Trust (94-776-236) in box 9 and enter the amount of your tax credit your wish to transfer in box 10.
If you want to make regular donations to the University, you may wish to speak to your employer about whether they offer payroll giving. This is where donations are deducted from your monthly pay and your PAYE will be amended to give you the immediate benefit of any donation tax credits you are entitled to.
Donations from companies
Companies may be able to claim a tax deduction for donations.
Deductions are available to the extent that a company would have had taxable income in the absence of the donation. This means tax deductions claimed for donations made cannot put the company into a tax loss position for the year.
The total amount of your company’s donations made to donor organisations for the year should be separately disclosed in your company income tax return.
If you are unsure about any of the above we recommend that you speak to your tax advisor or Inland Revenue.