Donations and gifts made by businesses
Donations and gifts made by businesses to various organisations that are made purely for business purposes, e.g. as a form of advertising, may be deducted in full even though the recipient is not registered as a Deductible Gift Recipient (DGR) with the Australian Taxation Office.
Donations and gifts of $2 or more
(a) Within approved general categories such as the following, for example:
- public or non profit hospitals
- public benevolent institutions
- public authorities or institutions engaged in research into diseases
- buildings for government, semi government, private non profit colleges or schools
- public universities
- charitable purposes to promote education.
(b) Those organisations registered with and listed by the ATO on its website as Deductible Gift Recipients (DGRs).
It is essential you have evidence of donations and gifts, e.g. receipt. Please note purchase of raffle tickets or similar is not considered a donation by the ATO even though the raffle may be conducted by a charitable organisation.
For more information about donations or other tax deductible expenses CONTACT US now at BSN & Co!