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Edited version of private advice
Authorisation Number: 1052359091431
Date of advice: 7 February 2025
Ruling
Subject: Deductions - donations to deductible gift recipient
Question
Are you entitled to a deduction for the value of the Property you gifted to Entity A, a deductible gift recipient, in accordance with item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes. All relevant requirements under Division 30 of the ITAA 1997 are met to classify your gift of the Property as a gift for the purpose of section 30-15 of the ITAA 1997. As such, you are entitled to a deduction for the value of the Property in accordance with item 1 of the table in section 30-15 of the ITAA 1997.
This ruling applies for the following period:
Income year ending 30 June 20XX.
The scheme commenced on:
1 July 20XX.
Relevant facts and circumstances
Entity A is endorsed by the Australian Taxation Office as a deductible gift recipient.
You acquired the Property from an unrelated entity.
You gifted the Property to Entity A.
Your gift was unconditional.
Entity A has the full discretion as to the use of the Property.
You did not and will not get any benefit or recognition for your gift.
Relevant legislative provisions
Income Tax Assessment Act 1997 Division 30
Income Tax Assessment Act 1997section 30-15