In September 2020, Givealittle partnered with TaxGift to give Donors the option to donate their available tax credit to the charity they initially donated, to keep their giving going and make an even bigger impact for their chosen charity.
However due to the change in Inland Revenue operating procedures in July 2022, TaxGift are not able to receive new registrations to the TaxGift service from the 6th July 2022.
Donors who completed their TaxGift registration prior to 6th July 2022 will have their Tax Credit processed via TaxGift and passed back to the intended charity.
I did register with TaxGift prior to 6th July 2022 - what does that mean for me?
TaxGift can still claim a tax credit as your tax agent for any donations made before the Tax Year ending March 2022 and March 2021. TaxGift receives the tax credit from Inland Revenue and passes it through as a further donation to your originally chosen charity via Givealittle.
I opted in to regift my donation via TaxGift however I did not complete the registration by the 6th July 2022 - what does that mean for me?
Unfortunately due to the change in Inland Revenue operating procedures, you can no longer register with TaxGift. This means we have cancelled your TaxGift opt-in for your donations on Givealittle and we have reissued your receipt/s automatically so you can claim these donation tax credits yourself.
Inland Revenue’s website shows you how make a claim easily here: simply log in to myIR, complete a few short steps, and you’re done!
If you have any questions, Use this link to contact us.
When does the charity receive the funds?
TaxGift receives your tax refund once your tax position for the year has been assessed and cleared via the IRD. Donations are provided to Givealittle for processing to allocate to beneficiary charities. In some cases it may take one to two years for an original donation tax credit to be processed by the IRD.
Who pays the processing costs?
Re-gifting a tax credit doesn’t cost the donor anything, but it does mean the donor will forego their tax benefit. Due to the volume and nature of the work required to administer, track and apply funds on behalf of many donors, a combined TaxGift/Givealittle fee of 14.2% (12.35%+GST) is charged on the total of the tax credit received and charged to the charity beneficiary, who can also claim back the GST component.
Can I change my mind?
Only if it has not yet been claimed by TaxGift. it is likely that this has already been claimed however you can check by contacting us on helpdesk@givealittle.co.nz.