End of Financial Year Donations

As June 30 is approaching fast, we’d like to let grantmakers know that we have provided a simple guide on our website for end of financial year donations:

http://www.philanthropy.org.au/involved/end-of-financial-year.html

If you are looking to disperse funds within your local community, our Members include many Community Foundations whose sub-funds invest directly into their geographic area.

Are you checking the legal status of your grantees to ensure you are not open to ATO penalties?

1.    Visit www.abr.business.gov.au

2.    Enter name or ABN of grant recipient organisation

3.    Under Deductible gift recipient status check your grantee is “covered by Item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997”

4.    If your grantee organisation is “a public ancillary fund covered by Item 2 of the table in section 30-15 of the Income Tax Assessment Act 1997” then a Private Ancillary Fund (PAF) cannot legally fund it

Need a quick refresher? BOOK NOW for our next Governance Workshop (Melbourne) Wednesday 26 June, 9.00am - 12noon

Jun. 17, 2013

 Tags: workshops, general, finance

Philanthropy Weekly Newsletter

Sign up to our weekly e-newsletter for sector news, expert opinion and resources.

Sign up here