ATP accountants and tax mortdale ATP accountants and tax mortdale ATP accountants and tax mortdale ATP accountants and tax mortdaleATP accountants and tax mortdale
PHONE: 02 8850 3888
EMAIL:
ENQUIRE ONLINE

Guide to tax-deductible gifts

Posted on Dec 21, 2016 by editor

Giving to charity this Christmas is a great way to give to those less fortunate while receiving some extra tax perks.

Charitable donations are tax deductible which only adds to the incentive to be generous this holiday season.

Here are some tips for maximising your tax breaks on charitable donations:

The charity must be registered
Make sure the charity you donate to has been endorsed by the ATO as a deductible gift recipient (DGR) organisation. It is important to note that not all charities are endorsed as a DGR.

The gift must truly be a gift
The donation must be a gift, not an exchange for something material. This means if you have received items in return that provide you with some personal benefit, such as raffle tickets, you cannot claim the deduction as a gift or donation.

Check relevant gift conditions
The ATO considers a gift as a voluntary transfer of money or property, including financial assets such as shares. For some DGRs, the income tax law adds extra conditions affecting the types of deductible gifts they can receive. If you are considering a sizeable donation, discuss the tax implications with your accountant.

ATP Accounting knows what it takes to run a successful business. They will position you at the cutting edge of business growth.
Take the step and get help to grow your business, minimise tax and protect your hard-earned assets.
Call us today on (02) 8850 3888, send us an email to or send us a message here.

Guide to tax-deductible gifts Guide to tax-deductible gifts Guide to tax-deductible gifts Guide to tax-deductible gifts Guide to tax-deductible gifts

Join our mailing list

Stay in touch with ATP Accounting

  • This field is for validation purposes and should be left unchanged.