True Colours Charitable Trust is an IRD approved donee organisation for Payroll Giving.
Payroll Giving enables donations to go directly from a person’s pay to a chosen community organisation. The scheme is administered through the PAYE tax system, so people whose employers introduce a Payroll Giving scheme will receive the tax benefits of their donations each payday, without having to present donation receipts or wait to claim at the end of a tax year. (However, you will still be able to file a Tax credit claim form (IR526) at the end of each tax year to receive your tax credit for donations made outside the Payroll Giving scheme.)
Payroll giving is voluntary for employers and employees and is only be available for organisations that file their PAYE returns online.
Individuals can now claim tax rebates up to the level of their taxable income, while companies and Maori authorities can claim deductions for donations up to the level of their annual net income
The IRD has available a Guide to Payroll Giving (IR617)
www.ird.govt.nz/news-updates/campaign-payroll-giving.html?id=homepage
