You can claim a deduction for contributions to approved organisations that relate to fund-raising events where you received a minor benefit for your contribution, provided that:
- the contribution meets certain conditions, and
- the benefit you received does not exceed a specified limit.
A fund-raising event includes a fete, ball, gala show, dinner, performance or similar event.
You can claim a deduction if you made:
- a contribution of money or property to attend or participate in (or for the right to attend or participate in) a fund-raising event, or
- a contribution of money to purchase goods or services at a charitable auction.
Your contribution must meet the following conditions.
- It was made to an approved organisation.
- If it was money, it was more than $150.
- If it was property, you had either:
- purchased it within 12 months of making the contribution, and both the market value on the day of the contribution and the purchase price were more than $150, or
- owned it for more than 12 months and the AVO valued it at more than $5,000.
- If it was publicly listed shares, the value was more than $150 and less than or equal to $5,000.
- The fund-raising event was held in Australia.
- The GST-inclusive market value of the minor benefit you received for your contribution must have been worth no more than $150 or 20% of the value of the contribution, whichever is less. The receipt from the approved organisation will show the market value of the minor benefit you received.
Your deduction is the value of your contribution that satisfies the conditions set out above less the GST-inclusive market value of the minor benefit you received. Both of these amounts appear on your receipt.
There is no limit to the number of deductions you can claim for successful bids to purchase goods or services at a charitable auction, provided the above conditions are met.