Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
The Assistant Treasurer has announced his decision to recognise the 2009 Italian earthquake as a disaster for the purposes of determining the tax deductibility of donations.
Organisations wishing to establish a tax deductible fund to assist victims should see our web product Assisting victims of disasters. In many instances it may be faster and more convenient to identify an established deductible gift recipient that is supporting the people affected by the earthquakes and contact them to collect donations on their behalf.
|
Organisations seeking endorsement as a developed country disaster relief fund must apply to the Tax Office.
|
An extract of the Assistant Treasurer’s press release No. 028 dated 9 April 2009 is below. The full press release can be viewed on the Assistant Treasurer's website.
Declaration of the 2009 Italian earthquake as a disaster – the Assistant Treasurer’s press release.
The Assistant Treasurer today declared the Italian earthquake of 6th April 2009 disaster for the purposes of tax deductibility of donations under the Income Tax Assessment Act 1997.
On 6 April 2009 the Abruzzo region of Italy was hit by an earthquake which has devastated the region. The effects of this tragic event have been widespread, and many people in the Australian-Italian community have been directly affected by the disaster.
The Assistant Treasurer’s decision means that public funds established and maintained by a public benevolent institution solely to provide money for the relief of people in Italy who are in distress as a result of the earthquake can be established as ‘developed country relief funds’. Donations to such funds are tax deductible for a period of two years from 6 April 2009.
The thoughts of the Australian Government and all Australians remain with the people of Italy at this difficult time.
|
Feedback on the Non-Profit News Service and suggestions for future articles are encouraged. You can do this by:
|
Last Modified: Wednesday, 15 April 2009