Telecom payroll giving milestone applauded

Revenue Minister Peter Dunne today praised Telecom for leading the way for large corporates in supporting payroll giving, as the Telecom Foundation hit $1 million in donations to New Zealand charities, schools and community groups.

“Telecom and the Telecom Foundation have shown the way on payroll giving since they came on board with the scheme 18 months ago,” Mr Dunne said.

“Both the Telecom management who had the foresight and corporate spirit to back payroll giving, and the more than 20 percent of Telecom staff who have supported their favourite causes through the scheme should be very proud of what they are doing for New Zealand,” he said.

Since payroll giving was introduced in November 2009, more than $8.9 million has been donated directly from a growing number of peoples' pay to their favourite charity or donee organisation.

In November alone – the most recent figures available – 3539 employees nationwide donated just under $396,000. Because the donations were made through payroll giving, these employees received immediate tax credits totalling just under $132,000. They did not need to wait until the end of the year to make a claim.

“And that is the beauty of the scheme. It makes New Zealanders’ natural generosity and inclination to support worthy causesso simple and straightforward,” Mr Dunne said.

Some 770 New Zealand employers and businesses are signed up for payroll giving – and the number is growing by 15 to 20 a month – and over 13,000 workers have taken part in the scheme since its inception.

More information on payroll giving and how to join it can be found at www.ird.govt.nz/news-updates/like-to-know-payroll-giving-updates.html