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A new research paper suggests philanthropic donations would increase by up to 73% if the donation tax credit was boosted. The report is by financial advice and planning firm Bloomsbury Associates in collaboration with a range of economists and tax experts.
It argues that the current tax credit of 33.33 cents per dollar donated be raised to 50 cents per dollar donated. It also suggests that the tax credits be carried forward across multiple years. Report author, Phil Stevenson, says this would boost philanthropic giving by hundreds of millions. Kathryn also speaks with Chief Executive of Philanthropy NZ, Rahul Watson Govindan.
