ATO Releases New NFP Guide on Tax Deductibility

The Australian Tax Office has released a new version of its GiftPack guide to help Not for Profits understand what to do if they want to receive tax-deductible gifts.

The new Guide replaces the previous version issued by the ATO in December 2007

The Guide also helps donors who want to claim tax deductions for their gifts.

The ATO says the new version incorporates changes to tax law since the FGuide was last issued, including:

• changes to the deductibility of political donations
• the introduction of a new deductible gift recipient (DGR) category for private ancillary funds to replace prescribed private funds
• the introduction of three new DGR categories for volunteer bushfire brigades
• changes to the requirements for endorsement under the DGR categories for Higher education institutions and Affiliated residential educational institutions.

The complete Guide can be viewed at http://www.ato.gov.au/nonprofit/content.aspx?doc=/content/18699.htm

Organisations can request a printed copy by:
ordering it online at http://www.ato.gov.au/businesses/content.aspx?doc=/content/34875.htm or phoning 1300 720 092 and quoting 'NAT 3132'