HOW TO CLAIM YOUR TAX CREDIT

Simply complete your IRD Tax Credit Claim Form IR 526. If you don’t already have this form, you can print one out HERE

Attach your receipt to your form and post to your local Inland Revenue office. You can check www.ird.govt.nz for the office nearest you.

Then simply sit back and wait for your cheque totalling a third of your donations.

Current tax laws have increased the limits for donation credits. If you weren’t eligible to receive a credit in the past, you are eligible now.

For donations made from 1st April 2008:

Individuals can now claim a credit up to the level of their annual net income. The credit is calculated as 33% of eligible donations.

The 5% maximum limit for companies has been removed and they can also claim a tax deduction for donations up to the level of their annual net income.

The company deduction is also being extended to unlisted companies with five or fewer shareholders.

RE-GIFT YOUR TAX CREDIT

If you wish, there’s a simple way to donate your tax credit back to TEAR Fund. That option increases your initial donation to TEAR Fund by 33% and allows you to claim an additional tax credit on this amount next year! 

To choose this option, simply follow these easy steps:

1. Fill in your IR 526 form - you can print the form at http://www.ird.govt.nz/forms-guides/number/forms-500-599/ir526-form-claim-rebate.html
“Tax Credit-IR 526”. 

2. In box 7 of the form, enter TEAR Fund’s IRD number – 018-858-479.

3. In box 8, enter the amount of your tax credit you would like to transfer to TEAR Fund.

4. Enter the year for which you are claiming a tax credit (eg. 2011).

5. Staple your receipt to the form and post it to your local Inland Revenue office. Check http://www.ird.govt.nz/contact-us/postal/ for the office nearest you.

6. Complete and return the slip at the bottom of your tax receipt letter or send an email to taxrebate@tearfund.org.nz with your IRD number, amount and project you wish your credit to be allocated to. TEAR Fund will then receipt you accordingly. (Due to Privacy regulation IRD will not disclose your name).

Your credit will be transferred to TEAR Fund’s IRD number and paid into our bank account to help even more of God’s neediest children this year.