Stewart .Donaldson @ird.govt.nz FUTURE OF CHARITIES & TAX FUTURE PROSPECTS FOR CHARITY LAW, ACCOUNTING AND REGULATION CONFERENCE 2019 11 April 2019 Stewart.

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Stewart .Donaldson @ird.govt.nz FUTURE OF CHARITIES & TAX FUTURE PROSPECTS FOR CHARITY LAW, ACCOUNTING AND REGULATION CONFERENCE 2019 11 April 2019 Stewart .Donaldson @ird.govt.nz https://www.ird.govt.nz/non-profit/np-updates/ Charities.Queries@ird.govt.nz

OVERVIEW Government support the charitable sector through the tax system Recent changes – context for the future Tax Working Group recommendations Other matters that have come to our attention IR’s customer focus: let us know what you think

GOVERNMENT SUPPORT FOR THE CHARITABLE SECTOR THROUGH THE TAX SYSTEM Income tax exemption Resident Withholding Tax exemption Donation concession FBT exemption GST concessions Student Loan (interest-free) concession Working for Families Tax Credit (charitable distribution) exclusion

RECENT CHANGES – CONTEXT FOR THE FUTURE Simplifying how to claim donation tax credits Qualifying donations Donee status rules Deregistration rules Business exemption rules Honoraria / salary and wages (FENZ volunteers) GST on assets sold

TAX WORKING GROUP RECOMMENDATIONS Business income in the charitable sector Charities that accumulate and do not distribute Deregistration rules: keeping assets in the charitable sector in perpetuity Better targeting other tax concessions: GST

OTHER MATTERS THAT HAVE COME TO OUR ATTENTION Imputation credit refundability The rise of social enterprises Tax exemption for non-charitable purposes Whether general tax concessions should be extended to charities Donation tax concessions Not-for-profits that are not tax exempt

IR’S CUSTOMER FOCUS: LET US KNOW YOUR EXPERIENCE Email by 31 May 2019 Charities.queries@ird.govt.nz Subject: Charity Insights What is working well with Inland Revenue for your charity? What could Inland Revenue improve (operationally or through recommending a law change) for your charity?