ATO Launches New Fundraising Guide

The Australian Tax Office (ATO) has released a new version of its Guide to Fundraising for Not for Profit organisations. The new version replaces the one issued in March 2005.

The guide explains the tax treatment of various fundraising activities and the concessions available. It also outlines all state, territory and local government requirements in relation to fundraising.
The new version incorporates changes to the tax law since 2005.

These 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 to the goods and services tax (GST) registration turnover and cash accounting thresholds, and
– changes to the fringe benefits tax minor benefits threshold.

The Guide can be downloaded in PDF format at: http://www.ato.gov.au/content/downloads/NPO56536.pdf

Paper copies of the guide can be ordered by phoning 1300 720 092