|
Donating to RHUM Since 2009 RHUM events & media has been listed on the Register of Cultural Organisations and maintains a tax deductible gift fund (RHUMfund) that allows reciept of donations from the public and allows public donators to claim a tax deduction on monies or gifts made to the fund. Before making a gift or donation to any charity you should be confident in the status of the charity and be aware of the types of donations and gifts that attract deductible status. RHUM wants you to understand and feel comfortable with making a gift or donation to the RHUMfund and we hope the following information provides clarity and confidence.
To verify the status of RHUM as a deductible gift fund operator check the Australian Business Register Claiming deductions for gifts Deductions for gifts are claimed by the person or organisation that makes the gift (the donor). A donor can be an individual, company, trust or other type of taxpayer. To be tax deductible a gift must:
A deduction for a gift cannot add to or create a tax loss for the donor. However, donors can elect to spread deductions for certain gifts over a period of up to five years. The amount of the deduction depends on the type of gift. For gifts of money, it is the amount of the gift. For gifts of property and shares, there are various valuation rules. Donors need to keep records of their deductible gifts. When property has been gifted, additional details may need to be recorded. This will help donors when they prepare tax returns and in case of ATO audit. For more information on claiming deductions for gifts made to deductible gift recipients see the Australian Taxation Ofice Website For more information on the RHUMfund email This e-mail address is being protected from spambots, you need JavaScript enabled to view it |
be made to a deductible gift recipient (DGR)Love RHUM?
Get RHUM articles direct via RSS
Get RHUM articles direct via facebook.
Get RHUM articles direct via MySpace.
Get RHUM on your mobile phone.
Subscribe for Free here.