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  1. #1

    Default Charitable Trust

    Has anyone on PT set up a charitable trust?

    If yes was it used for beneficiaries , let's say another charity overseas?

    I am looking at doing some charity work overseas.

    I haven't seen a lawyer or accountant yet but I would like to start a discussion on this here.

    Thanks for your input!

  2. #2
    Join Date
    Jun 2005
    Location
    auckland New Zealand
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    5,236

    Default

    No t much to discuss sadly, I have talked to the top charitable trust people in the country to try and set one up for our work in Fiji. It can't be done unless you are an organisation like world Vision or a multi national.
    As soon as it is leaving NZ it is taxable so you can't get donee status.

  3. #3
    Join Date
    Jun 2009
    Posts
    1

    Default

    Nope, but I do know that a donation is tax deductable. I heard that some compaines like mike pero and platinum rentals make large donations and that it's tax deductable. I think they were like a bronse sponcer of Free Ambulance in NZ. Does anyone else know of good ways to reduce tax or that sort of stuff? Are there any other companies out there that make large donotons. I also saw that Mike Pero made the seller of the kiwi shaped fejoa give $500 to charity. Did anyone see that auction. It went from $20 to $1000 with one bid. Would anyone else pay $1000 for a piece of fruit? What is a charitable trust anyway? Is that a non profit trust that gives all there profit away?

  4. #4

    Default

    http://www.community.net.nz/how-togu...able-trust.htm

    Hi Johnny1919

    Generally any donation to charitable organization recognized by IRD is tax deductible.

    Now any donation that goes overseas is an issue. Obviously Red Cross, World Vision etc can still claims these funds as tax Deductible.

    Dean has said that other than these big organizations any other charitable organization moving finds off shore will pay tax funds moved.

    What I'd like to know is how do the laws work for these organizations.

  5. #5
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    They apply to the government for an exemption to the charitable trust tax laws.

  6. #6

    Default

    Hey Dean

    How easy/difficult is it to get exemption? Any idea?

  7. #7
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    "For all intents it is impossible" were their exact words. Unless you are a multinational you can't do it.

  8. #8
    Join Date
    May 2006
    Location
    Mordor
    Posts
    1,048

    Default

    New Zealand charities law is founded upon and follows the original English law, the Statute Of Elizabeth 1601. That statute established the classes of people who could be treated as legitimate charitable objects. Children, the halt, the lame, and the sick etc. Most Commonwealth countries still adhere to the original statute which has stood the test of time.

    NZ charities law specifically requires that a charity expend its efforts within New Zealand.

  9. #9
    Join Date
    Nov 2011
    Posts
    445

    Default

    I'm keen to start up a charity too once i'm more financially stable - it's my goals also to do charity work overseas for some more work life balance

    I've done some volunteer work already in countries like Philippines and Bangladesh
    Last edited by donna; 13-09-2012 at 05:14 PM.


 

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