Many West Australians are generous and supportive offering donations to various ‘Charities’.
When it comes to tax-time we are reminded to check that donations claimed in our tax returns are legitimate to turn our charitable giving into a positive for all.
This reminder comes from the ATO, with the message there are four reasons why a claimed gift may not be deductible.


For example;
Not all Charities and Not-for-Profit organisations are endorsed by the ATO as deductible gift recipient. This includes many online crowd funding campaigns to raise money for individuals and various causes.
Another example is people donating directly to foreign Not-for-Profits and Charities. Such donations are not tax deductible unless the organisations are a registered Australian DGR.
Tax-payers were also reminded to keep their receipts to verify payments.
It is worth noting if you make one or more donations of $2 to bucket collections run by an approve organisation you can claim a tax deduction of up to $10 for the total of those contributions, without a receipt. Worth remembering when the donation-bucket comes your way during the year!

 

Another reason your claim may not be deductible is where you expect to receive or receive, monetary or personal benefit or advantage in return, such as raffles.
Have questions Blackburn Accounting can help with all your taxation matters,
including Gifts and Gifting.

Blackburn Accounting are your family Business and Tax specialists.
We offer;
• Preparation of Business and Individual tax returns
• Prompt, personalised service
• No return is too big or too small
• We aim to legally minimise your tax and maximise your return
• We are experts in Tax law