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2020 Rebate FAQs

Click on a question below to see the answer.

1. Why are we receiving two rebates in 2020?

Traditionally the rebate is paid annually. However, based on feedback (see below) and with the ability to pay directly into bank accounts, trustees decided to pay the rebate out in two instalments in 2020; 50% in July and 50% in early December. In light of the COVID-19 lockdown, trustees further decided to pay out half of the July rebate ($110) early in mid-May.

We listened to your feedback on the timing of payments and recognise that there are a number of advantages to having two rebate payments per year. These include:

  • Eligible beneficiaries will receive 50% of their annual rebate earlier (paid out in July).
  • Beneficiaries who have a change in living circumstances (and therefore would usually become ineligible for the full rebate) could still receive 50% of the rebate.
  • Feedback received after the special rebate this year showed many beneficiaries appreciated having a rebate in the middle of the year to help with winter power bills.

2. Why are we receiving these rebates?

TECT have an investment portfolio that includes a shareholding in Trustpower, and because you buy your power from Trustpower and live in the qualifying area* you become a beneficiary of TECT. TECT is a separate entity to Trustpower.

*Qualifying Area - basically the territories of Tauranga City Council and WBOP District Council. (Formerly supplied electricity by Tauranga Electric Power Board or Tauranga Electricity Ltd). Only parts of Waihi Beach are eligible - includes Bowentown end to 106 Seaforth Road (104 Seaforth Road is not included in the TECT area).

3. Who is eligible to receive the TECT rebates?

To be eligible to receive the TECT rebates in 2020, you must meet the following criteria:

  • Be a Trustpower power customer with an active power account in the same name, basically in the Tauranga City or Western Bay of Plenty region (see note below) during the eligibility periods:
  • For the early rebate payment in mid-May, and the July 2020 rebate, the eligibility period is 1 October 2019 – 31 March 2020.
  • For the December 2020 rebate, the eligibility period will be 1 April 2020 – 30 September 2020. 
  • If you move properties during the qualifying period there must be less than 30 days between finalising one account and registering with Trustpower into the new property.

Parts of Waihi Beach are excluded from the TECT District.  106 Seaforth Rd - Bowentown end is included in TECT's District. 104 Seaforth Rd - Waihi Beach is excluded.

4. Why is the July rebate less than usual?

The Annual Distribution Plan for 2020 confirmed that eligible beneficiaries will receive: 

  • $220 fixed (minimum) amount in July, plus a variable amount based on their total spend over the qualifying period*. In light of the COVID-19 lockdown, trustees further decided to pay out half of this ($110) early in May.
  • $220 fixed (minimum) amount in early December, plus a variable amount based on their total spend over the qualifying period*.

This is a total of $440 plus a variable amount to be paid in 2020. In 2019, the rebate was $440. A special one-off distribution of $295 was also paid in July to each eligible beneficiary.

* See question 3 for qualifying periods

5. Where has the money come from in the first place?

The money comes from returns on TECT’s investments which include a 26.8% shareholding in Trustpower and a diversified portfolio. The current policy is that approximately 80% of distributions are to be distributed direct to beneficiaries by way of rebate annually.

6. Has this rebate got something to do with our Trustpower shares?

No. You have received this rebate because you are a beneficiary of TECT.  See Question 2.

7. How much will the rebates be?

The Annual Distribution Plan for 2020 confirmed that eligible beneficiaries will receive:

  • $220 fixed (minimum) amount in July, plus a variable amount based on their total spend over the qualifying period. In light of the COVID-19 lockdown, trustees further decided to pay out half of this ($110) early in mid-May.
  • $220 fixed (minimum) amount in early December, plus a variable amount based on their total spend over the qualifying period.

8. When will the rebates be paid?

The rebates will be paid out in July 2020 and early December 2020. In light of the COVID-19 lockdown, trustees further decided to pay out half of the July rebate ($110) early in May

9. How are the rebates paid?

Rebates can be paid directly into eligible beneficiaries' nominated bank accounts. If preferred, beneficiaries can have their rebate credited to their Trustpower power account. This will be the default payment method if no bank details are provided. Beneficiaries can select their rebate payment method via their MyAccount on the Trustpower website at www.trustpower.co.nz/tect. Beneficiaries that do not have access to a computer can call Trustpower on 0800 87 87 87 to select their rebate payment option.

10. Why do I need to provide my bank account details to receive the rebates when Trustpower already has them for my power account direct debit?

The bank account details held for the TECT rebates are separate to Trustpower's billing systems. 

11. Why do I need to provide my bank account details to Trustpower and not TECT?

Trustpower holds the information that can verify the Trustpower account holder. Trustpower also have the technical systems in place to keep beneficiaries' information secure.

12. Will people outside Tauranga/Western Bay receive a rebate?

No, only Trustpower power customers living generally in the Tauranga/Western Bay region are eligible to receive the rebate.  Note TECT boundaries for Waihi Beach per Question 2.

13. What happens if I move house during the qualifying periods (1 October 2019 – 31 March 2020 and 1 April 2020 – 30 September 2020). Would I still receive a TECT rebate?

It will depend whether or not you re-connect with Trustpower in your new property (within the TECT area) and the length of time between moving properties. A maximum of 30 days between moves is allowed.

14. If I move away before the close off date - do I get a part payment?

No.  To be eligible to receive the July 2020 rebate you must have an active power account on 1 October 2019 and continuously through to 31 March 2020. To be eligible to receive the December 2020 rebate you must have an active power account on 1 April 2020 and continuously through to 30 September 2020. There are no part payments.

15. If we change our account name during one of the qualifying periods (1 October 2019 - 31 March 2020 for the July rebate, and 1 April 2020 – 30 September 2020 for the December rebate) - do we still get a rebate?

If you change the name on your power account during one of the qualifying periods you will not be eligible for that qualifying period’s rebate.  Some exceptions apply, please contact our office on 07 578 5094.

16. We have two power accounts, will we receive a rebate for each account?

Rebate eligibility is applied to each ICP (power supply) within the TECT district.  You will be able to match the ICP number on your payment remittance letter with the ICP number on your power bill.

17. The account is in our landlord’s/body corporate name but we pay the bill. Do we receive the rebate?

The rebate is paid to the person or organisation named on the Trustpower account. This person(s) is liable to pay the bill and are therefore entitled to receive the rebate. 

18. What is the balance of our power bill?

Please contact Trustpower for this information – 0800 87 87 87.

19. I need the money now, can I have my rebate early?

No.  The rebates are all processed in one batch and it's not possible to separate one out before this process occurs.

20. Do I have to declare the income in my tax return?

No. The rebate is being made from TECT’s capital and therefore is not taxable to you.  It should not be included in your tax return.

21. Do I have to declare the rebate as income for my local council rates rebate?

No.

22. I've lost my tax certificate.

Rebates paid since November 2010 are a distribution of TECT's capital and therefore is not taxable to you.  You do not need to declare this income and it should not be included in your tax return.

TECT can provide information about previous years' rebates to beneficiaries, however a search fee may apply.  Please contact our office (07) 578 5094.

23. I have a rebate cheque from 2018 or earlier, how can I get this paid out?

If you are still holding a cheque from 2018 or earlier, please send this to the TECT office at DX Box HP40007, Tauranga, 3112, or drop off to us at The Kollective, 17th Avenue, Tauranga. Please ensure you include a note stating how you would like this rebate paid; either into your bank account, or credited to your power account. If you would like it paid into your bank account, please provide your bank account details (either a deposit slip, bank statement or screenshot from your online banking showing your bank account number and name). If there are multiple names on your Trustpower account, but you would like it paid into an individual's bank account, we will need authorization from the other account holder/s that they are happy for the rebate to be paid to the individual. This can be done by sending a copy scan of the other account holder/s driver license or passport, including the other account holder/s signature.

Still unsure?

Contact our team:

Phone: TECT office on 07 578 5094
Email: info@tect.org.nz
Visit: The Kollective, Historic Village, 17th Ave, Tauranga South, Tauranga 3112

2019 Rebate FAQs

Click on a question below to see the answer.

1. Why are we receiving this rebate?

TECT have an investment portfolio that includes a  shareholding in Trustpower, and because you buy your power from Trustpower and live in the qualifying area* you become a beneficiary of TECT. TECT is a separate entity to Trustpower.

*Qualifying Area - basically the territories of Tauranga City Council and WBOP District Council. (Formerly supplied electricity by Tauranga Electric Power Board or Tauranga Electricity Ltd). Only parts of Waihi Beach are eligible - includes Bowentown end to 106 Seaforth Road (104 Seaforth Road is not included in the TECT area).

2. Who is eligible for a TECT rebate?

To be eligible to receive the TECT rebate in 2019, you must meet the following criteria:

  • Be a Trustpower power customer with an active power account in the same name, basically in the Tauranga City or Western Bay of Plenty region (see note below), on 1 April 2019 and continuously through to 30 September 2019.
  • If you move properties during the qualifying period there must be less than 30 days between finalising one account and registering with Trustpower into the new property.

Parts of Waihi Beach are excluded from the TECT District.  106 Seaforth Rd - Bowentown end is included in TECT's District. 104 Seaforth Rd - Waihi Beach is excluded.

3. Where has the money come from in the first place?

The money comes from returns on TECT’s investments which include a 26.8% shareholding in Trustpower and a diversified portfolio. The current policy is that approximately 80% of distributions are to be distributed direct to beneficiaries by way of rebate annually.

4. Has this rebate got something to do with our Trustpower shares?

No. You have received this rebate because you are a beneficiary of TECT.  See Question 1.

5. How much is the rebate?

Eligible TECT beneficiaries will receive a fixed (minimum) amount of $440, plus a variable amount based on their total spend over the qualifying period, in 2019. 

6. When will the rebate be paid?

The distribution in 2019 will be made in November 2019.

For the 2018 distribution, rebate cheques were mailed in early November 2018. If you think you are eligible but haven't received a rebate cheque please contact us on (07) 578 5094.

7. How is the rebate paid?

Rebates can be paid directly into eligible beneficiaries' nominated bank accounts. If preferred, beneficiaries can have their rebate credited to their Trustpower power account. This will be the default payment method if no bank details are provided. Beneficiaries can select their rebate payment method via their MyAccount on the Trustpower website at www.trustpower.co.nz/tect. Beneficiaries that do not have access to a computer can call Trustpower on 0800 87 87 87 to select their rebate payment option.

8. Why do I need to provide my bank account details to receive the rebate when Trustpower already has them for my power account direct debit?

The bank account details held for the TECT rebates are separate to Trustpower's billing systems. 

9. Why do I need to provide my bank account details to Trustpower and not TECT?

Trustpower holds the information that can verify the Trustpower account holder. Trustpower also have the technical systems in place to keep beneficiaries' information secure.

10. Will people outside Tauranga/Western Bay receive a rebate?

No, only Trustpower power customers living generally in the Tauranga/Western Bay region are eligible to receive the rebate.  Note TECT boundaries for Waihi Beach per Q2 above.

11. I moved house during the qualifying period (1 April - 30 September). Do I still receive a TECT rebate?

It will depend whether or not you re-connected with Trustpower in your new property (within the TECT area) and the length of time between moving properties. A maximum of 30 days between moves is allowed.

12. I moved away before the close off date - do I get a part payment?

No.  To be eligible to receive the TECT rebate you must have an active power account on 1 April and continuously through to 30 September— there are no part payments.

13. We changed our account name during the qualifying period (1 April-30 September) - do we still get a rebate?

If you change the name on your power account during the qualifying period you are not eligible for a rebate.  Some exceptions apply, please contact our office on 07 578 5094.

14. We have two power accounts, will we receive two rebates?

Rebate eligibility is applied to each ICP (power supply) within the TECT district.  Each rebate includes a fixed sum (See Question 5 above) plus a variable amount based on your total spend with Trustpower over the six month qualifying period.  You will be able to match the ICP number on your payment remittance letter with the ICP number on your power bill.

15. The account is in our landlord’s/body corporate name but we pay the bill. Do we receive the rebate?

The rebate is paid to the person or organisation named on the Trustpower account. This person(s) is liable to pay the bill and are therefore entitled to receive the rebate. 

16. What is the balance of our power bill?

Please contact Trustpower for this information – 0800 87 87 87.

17. I need the money now, can I have my rebate early?

No.  The rebates are all processed in one batch and it's not possible to separate one out before this process occurs.

18. Do I have to declare the income in my tax return?

No. The rebate is being made from TECT’s capital and therefore is not taxable to you.  It should not be included in your tax return.

19. Do I have to declare the rebate as income for my local council rates rebate?

No.

20. I've lost my tax certificate.

Rebates paid since November 2010 are a distribution of TECT's capital and therefore is not taxable to you.  You do not need to declare this income and it should not be included in your tax return.

TECT can provide information about previous years' rebates to beneficiaries, however a search fee may apply.  Please contact our office (07) 578 5094.

21. I have a rebate cheque from previous year which is now stale - what do I do?

Rebate cheques go stale after 6 months. Return the stale cheque to TECT (DX Box HP40007, Tauranga / The Kollective, Seventeenth Ave, Tauranga) and we will pay the rebate into your nominated bank account.  You will need to provide ID and bank account details.

22. I haven't received a rebate, but I think I'm entitled.

You have 12 months from the date of distribution to query your eligibility to a rebate.  The distribution date in 2018 was: 6 November 2018.

23. I have a rebate cheque from 2018 or earlier, how can I get this paid out?

If you are still holding a cheque from 2018 or earlier, please send this to the TECT office at DX Box HP40007, Tauranga, 3112, or drop off to us at The Kollective, 17th Avenue, Tauranga. Please ensure you include a note stating how you would like this rebate paid; either into your bank account, or credited to your power account. If you would like it paid into your bank account, please provide your bank account details (either a deposit slip, bank statement or screenshot from your online banking showing your bank account number and name). If there are multiple names on your Trustpower account, but you would like it paid into an individual's bank account, we will need authorization from the other account holder/s that they are happy for the rebate to be paid to the individual. This can be done by sending a copy scan of the other account holder/s driver license or passport, including the other account holder/s signature.

Still unsure?

Contact our team:

Phone: TECT office on 07 578 5094
Email: info@tect.org.nz
Visit: The Kollective, Historic Village, 17th Ave, Tauranga South, Tauranga 3112

 

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