Money Doesn’t Come Without Guidance ...
Gifts and Donation
As a citizen of Australia you may have some confusion whether tax is deductable or not for the donation or gift you make to an organisation. Claim in such deduction is applicable if the organisation has the status of being deductible gift recipients (DGRs).
(DGR) is an organisation that is entitled to receive income tax deductible gifts and deductible contributions endorsed by the ATO or listed by name in tax Law. A donor who can claim deduction can be any tax paying entity.
Tax donation qualification attributes
In order to be qualified for deduction you should have the following eligibility
When to claim tax deductible donation
Generally, you can claim from the year the donation takes place based on eligibility. You can also spread any tax deductible donation claims over a five-year period to avoid creating a tax loss and or avoid providing tax on higher income.
Records needed to claim deductions
Donation can’t be claimed
You can’t claim personal beneficial items like: