a, partially b, e Negative. Small increase in Small increase in Increase support to Potentially some time Small positive effect; Option three backdate – administration costs for compliance costs may borrowers volunteering delays if organisations likely to give rise to effective date of – Expected to result Inland Revenue. Extra increase the information for overseas charitable that are not greater access to interest approval in more decision involved in some organisations are organisations. automatically approved write-off for borrowers applications for deciding what effective date required to provide to are slow to provide volunteering overseas. interest write-off should apply for each Inland Revenue to necessary information. being accepted organisation. support application. (but less so than option 2). Objectives: (a) provide an interest to borrowers who are volunteering overseas for charitable purposes (b) have an efficient and timely process for approving a charitable organisation applying for charitable status (c) reduce administration costs for Inland Revenue (d) reduce compliance costs for charitable organisations (e) ensure integrity of the process and mitigate of the interest write-off provision
Option three – backdate effective date of approval a, partially b, e Negative. Expected to result in more applications for interest write-off being accepted (but less so than option 2). Small increase in administration costs for Inland Revenue. Extra decision involved in deciding what effective date should apply for each organisation. Small increase in compliance costs – may increase the information some organisations are required to provide to Inland Revenue to support application. Increase support to borrowers volunteering for overseas charitable organisations. Potentially some time delays if organisations that are not automatically approved are slow to provide necessary information. Small positive effect; likely to give rise to greater access to interest write-off for borrowers volunteering overseas. Objectives: (a) provide an interest to borrowers who are volunteering overseas for charitable purposes (b) have an efficient and timely process for approving a charitable organisation applying for charitable status (c) reduce administration costs for Inland Revenue (d) reduce compliance costs for charitable organisations (e) ensure integrity of the process and mitigate of the interest write-off provision
2015-ris-rlwtgstossl-bill-2.docx