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This isnt I.P. related,but wonder if anyone would know…would a donation to an O.S. charity be deductible? I am considering giving a donation to a charity O.S. & am not sure if it will be,or how it may affect my tax.Any comments?[confused2]
I think it would only be deductible if the charity is registered in Australia with the ATO as a non profit organisation???
But if you had a trust, then the trust could probably distribute some money to the charity before tax.??
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi,
You’re right on the first comment. The charity must be registered with the ATO to be claimable as a donation.
The Church of the Latter Day Saints has done very well on this score by tying in its private school funding via the tithing programme to make the tithing deductible…educational purposes.
As regards the second comment, if the trust is a charitable trust, it can donate money wherever it likes in compliance with its deed. But this has nothing to do with the ATO, as the trust would not be carrying on a business to claim the donations.
Businesses and companies are subject to the same rules as everyone else in regard to donations, and the recipient has to be on the charities list for the donation to be claimable.
Christopher Raynal
Master Accountants Group Limited
PO Box 46018 Herne Bay
Auckland New Zealand
Ph +64 9 360 3259
Fax +64 9 360 2180
http://www.masteraccountants.co.nz
