The Australian Tax Office has released a new version of its guide Fundraising For Not-For-Profit Organisations, which replaces the version that was issued in March 2005.
The guide outlines the tax treatment of various fundraising activities and the tax concessions available, as well as describing the state, territory and local government requirements in relation to fundraising.
The changes in the guide’s updated version include: new tax deductions for gifts and contributions of shares; new deductible gift recipient (DGR) categories for the relief of victims of disasters; changes to the gift fund requirements for DGRs; changes to the limits for tax deductible contributions; changes the GST registration turnover and cash accounting thresholds and; changes to the fringe benefits tax minor benefits threshold.
Printed guides can be ordered by phoning 1300 720 092.
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