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Immediate payoff for Budget charities move
Friday, 18 May 2007
Immediate payoff for Budget charities move
United Future leader and Revenue Minister Peter Dunne has welcomed today's report that philanthropist Jan Cameron, former owner of the Kathmandu clothing company, is returning to New Zealand.
"Jan Cameron, who sold the company for $200 million, said she moved to Tasmania and gave to Australian charities because New Zealand tax law limited the effectiveness of giving here," said Mr Dunne.
"Now, because of the lifting of the cap on charitable donations announced in yesterday's Budget, she says she's coming home and bringing her money with her.
"This is exactly the sort of benefit we were looking for when we made the changes and I'm delighted with Mrs Cameron's decision.
"The charitable and voluntary sector makes a huge contribution to New Zealand society and the encouragement of philanthropic giving can only add to that," said Mr Dunne.
ENDS
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