With Payroll Giving you receive the tax refund back into your paypacket in the period that you make the donation so you donвЂ™t have to separately apply to Inland Revenue. You can do this by completing an IR 526 Donation Tax Credit Claim form or directly via MY IR and attach the receipt. There are two riders to this.ДЇirst you generally have to apply for the refund. ThatвЂ™s $33 that you can do something else with. The charity still gets $100 but itвЂ™s only cost you $67. You now have funds to donate again if you want! For example, if you make a donation of $100 to a NZ registered charity then you can receive one third back from Inland Revenue. This means that the donation has only вЂњcostвЂќ you two thirds of the amount donated.

If you choose New Zealand registered charities then you qualify for a refund of one third of the amount you donated. Some people recommend 10% but this can be a lot for many people. Make the amount at a level that you feel comfortable with and that you can afford without getting into trouble yourself financially. Or you could decide to donate your super when you become eligible. Or you may prefer to make one-off donations when you get a bonus or some event occurs that makes you want to make a donation. The big benefits of Payroll Giving are that itвЂ™s easy, and you get the tax benefit of the donation immediately. You can organize Payroll Giving through your employerвЂ™s Payroll section. Often you can make donations via the organisationвЂ™s website or they may have set up a GiveaLittle page.Д«ut the easiest way to make donations is to either regularly support organisations through automatic payments from your bank account, for example annually or each payday, or through Payroll Giving. If this is a new journey for you and youвЂ™re not sure who to donate to, then think about the charities that you like or have some connection with, for example, a friend has cancer or your parent receives hospice care, you read about the work of Medecins sans Frontiers in war-torn countries, you want to contribute to your church, or you hear stories about the women saved by Womens Refuge. Some people are quite public about their financial support, such as arts patrons or organization sponsors but you may prefer to be more low key or anonymous. People make donations for various reasons including because they want to help others, they want to share their wealth and good fortune, sometimes they feel guilty about what they have and, for many, it just makes them feel good. And if you donвЂ™t have spare cash then you may have time that you can spare to help others instead. If youвЂ™re in a position to save then youвЂ™re in a position to donate cash to those in greater need if you want to.

Most successful people like Bill Gates and Melinda French Gates are involved in philanthropy but you donвЂ™t need to be well off to make donations. ItвЂ™s not clear exactly how it works but it does seem to work.

YouвЂ™ve probably heard sayings like вЂњThe more you give the more youвЂ™ll getвЂќ, вЂњGive and youвЂ™ll receiveвЂќ etc.

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