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Edited version of your private ruling
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Ruling
Subject: Deductibility of a gift
Question
Are you entitled to a deduction for the value of a prize gifted to an organisation?
Answer
No.
This ruling applies for the following period:
Year ended 30 June 2012
The scheme commences on:
1 July 2011
Relevant facts and circumstances
You and your spouse won a prize.
The prize was the lucky door prize held at a fundraising event.
You and your spouse jointly contributed the prize to an organisation.
The organisation is not a deductible gift recipient (DGR).
The organisation is a charitable trust.
Relevant legislative provisions
Income Tax Assessment Act 1997 Division 30
Income Tax Assessment Act 1997 section 30-227
Reasons for decision
A donation you make may be deductible provided the recipient is a deductible gift recipient as acknowledged by the Australian Taxation Office (ATO) under section 30-227 of the Income Tax Assessment Act 1997 (ITAA 1997).
Only certain organisations are entitled to receive income tax deductible gifts. They are called deductible gift recipients (DGRs).
DGRs are:
· endorsed by the ATO, or
· listed by name in the tax law.
The organisation that you donated the prize to is not endorsed by the ATO as a DGR, nor is it listed by name as a DGR in the tax law. Therefore, as the organisation is not a DGR, you and your spouse are not entitled to claim a deduction for the value of the gifted vehicle.