Charities are already hearing from some big donors indicating that they will not be able to give as much in the next year.
6:18 pm today
Tax changes could see some big money donors give less away next year. File photo.
Changes to tax credit rules could do serious damage to the charity sector as donors consider dialling back donations.
A group of charities is writing to the ministers of finance and revenue to express serious concern over a new rule that would cap tax credits for large donors at $33,000 a year.
This means there would be no more tax credits once donors give more than $100,000.
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Charities warn the move will cut large donations and shrink community help.
The SPCA said the cap would likely have “unintended consequences” for charities.
From April 2027, donation tax credits will be capped at $100,000 per donor.
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