As the Trust is a registered charity, donations made to it attract the following tax benefits:
For every $1 that an individual donates to the Trust, the donor is entitled to claim a donation
rebate of 33.3 cents in the dollar. The maximum donation for which a donation
rebate can be claimed is an amount no greater than the individual’s taxable income.
A company can make a donation to a charitable trust. The donation will be tax deductible,
to the extent that the company has taxable income for the year.
Trusts that make donations are not entitled to a tax deduction or a donation tax rebate.
Any business can make a sponsorship payment to the trust, provided the sponsor receives
something in return, such as naming rights. A tax invoice will be provided to the sponsor,
and GST input tax can be claimed on the payment made as long as the sponsor is GST registered.
TSB Bank City Branch
Art in Public Places Trust
0905165 00 50