Tax Deductible Donations

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Tax Deductible Donations

Making a big donation at End of Financial Year (EOFY) is not only good for the soul; it is also good for your bank balance. Donations can reduce an individual’s taxable income and money donated in June can result in money back in July.

Read on to find out how you and Bayside Women’s Shelter can benefit this financial year from your tax deductible donation.

What are tax deductions?

Tax deductions are a way to reduce your taxable income and the amount of tax that you pay. While most deductions are expenses directly related to earning your income, gifts and donations can also be considered tax deductions.

What kind of gifts and donations are tax deductible?

Donations of $2 or more made to an organisation that is defined by the Australian Tax Office as a Deductible Gift Recipient (DGR) can be considered tax deductible donations. Bayside Women’s Shelter is a DGR. If you receive something in exchange for the donation (eg. a raffle ticket or pen) then it doesn’t qualify as a tax deduction. The Tax Office defines this as a transaction where you receive a good or service in return for the money donated. However receiving tokens, like lapel badges and stickers that promote the organisation, are acceptable and still qualify as a tax deduction.

Why make a tax deductible donation to Bayside Women's Shelter?

We are the only Shelter in Bayside or Randwick Council set up to specifically assist women from domestic violence situations.

​While there are few other local homeless shelters, Bayside Women’s Shelters is the only shelter that focuses on ensuring the right support for women who have experienced violence or emotional abuse.

​We will also be one of the few shelters in Sydney that accepts children.

​Local shelters are currently oversubscribed and turning women away when they most need support. A shelter for local women is desperately needed.

Does claiming a tax deduction on a donation affect the amount of money Bayside Women's Shelter receives?

No. Any amount received back to donors comes from the Australian Tax Office as part of the tax refund process.

How much can I claim?

You can claim the full amount of the donation as long as it is $2 or more.

There is no limit to how much you can claim, however there is a limit to how much of a donation you can claim in a financial year. A deduction for a gift can reduce your accessible income to nil in a tax year, but it is not allowed to create or add tax loss. If this is a possibility, the deduction can be spread over several years and be used as a deduction for up to five years.

Can companies donate?

Absolutely. Just as individuals can claim donations as a tax deduction, businesses can claim gifts to charity – as long as it is a cash gift and the charity is a deductible gift recipient. More information is available on the Australia Taxation Office website.

How do I claim?

Make a donation to Bayside Women’s Shelter and keep the receipt.

Gather all of your tax documentation including tax file number, PAYG payment summary and receipts. Lodge your tax return online, with a paper tax return or with a tax agent.

​Pay close attention to section D9 Gifts or donations of the return – this is where you should record your donations.

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