INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 30 - Gifts or contributions  

Subdivision 30-CA - Administrative requirements relating to ABNs  

Requirements

SECTION 30-228   Content of receipt for gift or contribution  

30-228(1)  
If a * deductible gift recipient issues a receipt for a gift described in the relevant item of the table in section 30-15 to the fund, authority or institution, the deductible gift recipient must ensure that the receipt states:


(a) the name of the fund, authority or institution; and


(b) the * ABN (if any) of the deductible gift recipient; and


(c) the fact that the receipt is for a gift.

Note:

If the deductible gift recipient is endorsed as a deductible gift recipient and it contravenes this section, the Commissioner may revoke its endorsement: see section 426-55 in Schedule 1 to the Taxation Administration Act 1953 .

30-228(2)  


If a * deductible gift recipient issues a receipt for a contribution described in item 7 of the table in section 30-15 , the deductible gift recipient must ensure that the receipt states:


(a) the name of the deductible gift recipient; and


(b) the * ABN (if any) of the deductible gift recipient; and


(c) the fact that the receipt is for a contribution made in return for a right to attend, or participate in, a specified * fund-raising event; and


(d) if the contribution is money - the amount of the contribution; and


(e) the amount of the * GST inclusive market value, on the day the contribution was made, of the right to attend, or participate in, the fund-raising event.

30-228(3)  


For the purposes of paragraph (2)(e), in working out the * GST inclusive market value of the right in question, disregard anything that would prevent or restrict conversion of the right to money.

30-228(4)  


If a * deductible gift recipient issues a receipt for a contribution described in item 8 of the table in section 30-15 , the deductible gift recipient must ensure that the receipt states:


(a) the name of the deductible gift recipient; and


(b) the * ABN (if any) of the deductible gift recipient; and


(c) the fact that the receipt is for a contribution made by way of consideration for the supply of goods or services; and


(d) the fact that the contribution was made because the contributor was the successful bidder at an auction that:


(i) was a specified * fund-raising event; or

(ii) was held at a specified fund-raising event; and


(e) if the contribution is money - the amount of the contribution; and


(f) the * GST inclusive market value, on the day the contribution was made, of the goods or services.

30-228(5)  


For the purposes of paragraph (4)(f), in working out the * GST inclusive market value of the goods or services in question, disregard anything that would prevent or restrict conversion of the goods or services to money.

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