questions
- What is karma currency?
- How does it work?
- Are karma currency charity gift vouchers tax deductible?
- Who qualifies for a tax deduction for a Charity Gift - the giver or the gift recipient?
- I want to pick the gift to send to my friends/family. Can I do this?
- How much of my donation, once redeemed, is passed on to the designated charity?
- Do karma currency gift vouchers ever expire?
- How are charities selected and are they charged a fee?
- How do I know that karma currency will be reliable in handling my charitable funds?
- How do I know that it is safe to use my credit card?
- My gift recipient deleted the email containing their Charity Gift, how can I resend it?
- I've lost my tax receipt(s). How can I be reissued my tax receipts?
- What if the person to whom I am sending a karma currency gift voucher does not have Internet access?
- When does karma currency transfer donations to chosen charities?
- How long does it take for my card to be delivered?
- I work/volunteer for a charity that might want to use karma currency. What do I have to do?
- How do I know how much I have given or redeemed?
- I am having trouble with cookies on the site.
answers
What is karma currency?
About us
How does karma currency work?
How it Works
Are karma currency charity gift vouchers tax deductible?
Yes they are.
Who qualifies for a tax deduction for a Charity Gift, the giver or the gift recipient?
Only the giver qualifies for a tax deduction.The Recipient will not be entitled to claim a tax deduction by redeeming their Charity Gift Voucher.
However, if the Recipient wishes to make a donation to participating charities that exceeds the amount of the Charity Gift Voucher, then the Recipient must pay the balance with a credit card. In this case, the Recipient will be entitled to a tax deduction for that additional amount (provided the additional amount is $2 or more) and Karma Currency will provide a receipt to the Recipient.
How much of my donation, once redeemed, is passed on to the designated charity?
100%. By charging the purchaser a small processing/handling fee of $4.95 on top of the value of the charity gift voucher, we make sure that 100% of the money given to a charity, gets to that charity.
Do karma currency gift vouchers expire?
Karma currency vouchers are only valid for 12 months from the date of issue which is displayed on the voucher. If all or part of the amount shown on this voucher has not been redeemed within 12 months of the date of issue, then the amount that has not been redeemed will be given to the “default charity” as selected by the donor or otherwise at the discretion of the Karma Currency Foundation.
I want to pick the gift to send to my friends/family. Can I do this?
One of the many benefits of a karma currency charity gift voucher is that it allows the recipient to give to the charity of their choose which may not be your choice. However, if you have found the perfect charity or “charitable gift” why not mention it in the copy of your message?
How are charities selected to be listed, are they charged a fee?
Only organizations with DGR status that are endorsed as a deductible gift recipient under item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997 are eligible. This precludes organizations that have DGR status and operate as an Ancillary fund or a Prescribed Private Fund.
Charities that are registered pay a fee of $25 per month which helps the karma currency foundation maintain this website.
By the way, if your favourite charity is not listed with us then please feel free to drop them a line and direct them to sign up at https://www.karmacurrency.com.au/charitiesregister/terms.aspx
How do I know that karma currency will be reliable in handling my charitable funds?
Besides abiding by the general rules of karma. we are audited by WHK Horwath Melbourne. Moreover, all charities will be provided with the ability to reconcile all deposits with reporting detailing all donations made. Charities can access this information through a password protected account to manage reports and file downloads.
How do I know that it is safe to use my credit card?
karma currency Foundation Limited utilises the eMatters Payment Gateway for online credit card transactions. eMatters processes online credit card transactions for companies in almost all industries in Australia and New Zealand.
All online credit card transactions performed on this site using the eMatters gateway are secured payments.
- All transactions are performed under 128 Bit GeoTrust SSL Certificate.
- It is fully automated with an immediate response.
- No human intervention is required to complete this credit card transaction.
- This is far safer than providing your credit card to a waiter or a retail sales person.
- No record of your complete Credit Card Number is made available to Karma Currency Foundation Limited.
- eMatters has been certified by their processing bank.
- eMatters has been approved by many global banks.
- Verified by Visa and MasterCard SecureCode enabled.
- IP Global Positioning Fraud Management Software.
- BIN checking, ensuring the cardholder is linked to the correct bank
For more information about eMatters and secure credit card payments, please visit www.ematters.com.au
My gift recipient deleted the email containing their Charity Gift, how can I resend it?
Simply log in to your account and re-send.
We will not replace this voucher if it is lost or stolen.
If, due to technical malfunctions, this voucher is not able to be redeemed, your sole remedy, and our sole liability, will be the replacement of this voucher with another voucher for the same amount.
I've lost my tax receipt(s). How can I be reissued my tax receipts?
Your receipt will be emailed to you immediately upon purchase plus you will have the further option of printing out your receipt from the site. If you find you have not received your tax
receipt please check your JUNK mail inbox as your SPAM filter may have incorrectly categorized the email. However, if you have lost your receipt please contact us and we will reissue another.
What if the person to whom I am sending a karma currency Gift Voucher does not have Internet access?
At this time, redemptions can only be done online. If you are sending a Charity Gift Voucher to someone who doesn't use the Internet, you may suggest a friend or relative that can assist them in the designation.
When does karma currency transfer donations to chosen charities?
The monies are first deposited into the karma currency Trust fund and are then transferred quarterly to the charities.
How long does it take for my card to be delivered?
If you have selected email or post as the delivery method of the Charity Gift Voucher to a Recipient, karma currency will, upon processing your order, dispatch the Charity Gift Voucher to the nominated delivery address within 7 days of the order being processed. karma currency will not be responsible for any loss, delay or other complications associated with the delivery of the Charity Gift Voucher to a Recipient.
I work/volunteer for a charity that might want to use the karma currency. What do I have to do?
Point them in the direction of the registration page on our site, https://www.karmacurrency.com.au/charitiesregister/terms.aspx
How do I know how much I have given or redeemed?
Simply click on “my karma account” located at the top of this screen. Then, enter your email address and password and your full ‘give’ and ‘redeem’ history plus tax receipts are available to view, print out and enjoy!
I am having trouble with cookies on the site.
Unfortunately with so many operating systems and so many different IT environments out there, ‘cookie’ issues do arise from time to time. These cookies are simply placed there to enhance the user experience so please if you do have issues send us an email to let us know (plus a screen grab of where the issues took place will also help our IT guys fix it ASAP). Thanks for your patience!
