IR4 Question 23 Donations

A company (including an unlisted company with five or fewer shareholders) can claim a deduction for donations it makes to any society, institution, association, organisation, trust or fund that has donee organisation status. You can view the list of these organisations at www.ird.govt.nz (search keyword: donee)

State-funded tertiary education institutions, state schools and state-integrated schools don’t have to be approved to have donee organisation status.

The deduction for donations can’t be more than the company’s net income after expenses (before the donation deduction is taken into account). Use the following steps to calculate the company’s donation deduction.

• If the amount in Box 22 is a loss, print nil in Box 23B.

• If the donations made by the company exceed the amount in Box 22, copy the amount in Box 22 to Box 23B.

• If the donations made by the company don’t exceed the amount in Box 22, print the amount of the donations in Box 23B.