{"id":2065,"date":"2019-12-01T15:42:40","date_gmt":"2019-12-01T04:42:40","guid":{"rendered":"https:\/\/saige.com.au\/?p=2065"},"modified":"2020-01-03T15:05:32","modified_gmt":"2020-01-03T04:05:32","slug":"tis-the-season-to-be-giving","status":"publish","type":"post","link":"https:\/\/saige.com.au\/business\/taxation\/tis-the-season-to-be-giving\/","title":{"rendered":"&#8216;Tis the season to be giving"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2065\" class=\"elementor elementor-2065\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-77cd50b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"77cd50b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f4be121\" data-id=\"f4be121\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d031fea elementor-widget elementor-widget-text-editor\" data-id=\"d031fea\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>The recent NSW bushfires have been devastating on lives, homes, and wildlife. Our modest super hero&#8217;s at the Rural Fire Service, National Parks &amp; Wildlife and Emergency Services deserve all the support they can get. In fact, coming into Christmas, there are many opportunities to give to those in need or people less fortunate than ourselves.<\/strong><\/p><p>Over 80% of Australian adults donate to charities each year. A staggering $12.5 billion is donated annually.<sup>1<\/sup>\u00a0That equals $764 for each and every Australian adult. Compared with 10 years ago, this amount is on the rise. Charitable donations are tax deductible in Australia. While this welcomed by charities and tax payers, it can make the simple act of giving overly complex come tax time.<\/p><p>Before giving a large sum to charity, it pays to be aware that your donation can be deducted. This will give you more confidence heading into the &#8216;giving&#8217; season.\u00a0 To help, we&#8221;ve complied this basic charity checklist to help you navigate the most common forms of giving.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4969cae1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4969cae1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-73eec05f\" data-id=\"73eec05f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bcf78c8 elementor-widget elementor-widget-text-editor\" data-id=\"bcf78c8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>1. Are you giving to a Deductible Gift Recipient?<\/h2><p>To be tax deductible, the recipient of the donation must be registered as a Deductible Gift Recipient (DGR). You can quickly check the DGR status of the charity or not-for-profit you are donating to using this <a href=\"http:\/\/www.abn.business.gov.au\/Tools\/DgrListing\" target=\"_blank\" rel=\"noopener\">ABN lookup tool<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c41e5f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c41e5f7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b19b65\" data-id=\"3b19b65\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e1a9b4 elementor-widget elementor-widget-text-editor\" data-id=\"5e1a9b4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>2. Are you giving a &#8216;Gift&#8217; or a &#8216;Contribution&#8217;?<\/h2><p>Next, determine if what you are donating is considered a gift or a contribution:<\/p><ul><li><strong>Gifts<\/strong>\u00a0&#8211; are when you give money or property\u00a0and do not receive anything of value in return, except perhaps a pin or ribbon as non-valuable recognition of your donation..<\/li><li><strong>Contributions<\/strong>\u00a0&#8211; are when you may or have the chance of receiving something of value in return, even if that value is less than what you gave. Raffle tickets, charity auctions or paying to attend a fundraising dinner are examples of contributions.<\/li><\/ul><div><p>As a general rule,\u00a0almost all gifts to DGR&#8217;s are tax deductible whereas more conditions relate to what can be claimed for contributions and it is usually the difference between what you gave and what you received up to certain limits.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-66da615 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66da615\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-00c9d02\" data-id=\"00c9d02\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26cfca8 elementor-widget elementor-widget-text-editor\" data-id=\"26cfca8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>3. Are you giving $2 or over for each DGR recipient each financial year?<\/h2><p><span style=\"font-size: 17px;\">It&#8217;s pretty well known that donations $2 and over are tax deductible. However if you made multiple donations of under $2 to the same charity (DGR recipient) during the tax year then this could be claimed.\u00a0<\/span><\/p><p><span style=\"font-size: 17px;\">In terms of receipts, you must keep receipts that list the name of the DGR, their ABN, the value given and the fact that it is for a gift or contribution. For contributions, the receipt needs to state the market value of any goods or services received in return for your contribution.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7fd1579 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7fd1579\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-213ee52\" data-id=\"213ee52\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b42d29d elementor-widget elementor-widget-text-editor\" data-id=\"b42d29d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>4. Are you giving to a &#8216;bucket appeal&#8217;?<\/h2><p><span style=\"font-size: 17px;\">Bucket appeals for natural disasters can at times make it difficult to get proper receipts. If the ATO has approved the disaster as being eligible, up to $10 for each disaster can be claimed without a receipt.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1acb8ef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1acb8ef\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9dfc809\" data-id=\"9dfc809\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e9db5d elementor-widget elementor-widget-text-editor\" data-id=\"6e9db5d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>Getting certainty on your charitable contributions<\/h2><p><span style=\"font-size: 17px;\">There are many ways to give to charity and also many more different tax treatments that apply to charitable contributions in Australia for both individuals and businesses. To be confident you will get a deduction it&#8217;s best to consult with a registered tax agent.\u00a0<\/span><\/p><p><span style=\"font-size: 17px;\"><b>Saige Accountants<\/b> as a Registered Tax Agent can help advise on the tax treatment on your charitable donations. Whether it be a one-off donation or a regular sponsorship arrangement. <a href=\"https:\/\/saige.com.au\/talk-to-us\/\"><strong>Talk to us<\/strong><\/a> about any tax or accounting matters for your personal or business needs.<\/span><\/p><p>Sources:<br \/><span style=\"font-size: 17px;\">1. Philanthropy.org.au &#8211; <\/span><a style=\"font-size: 17px; background-color: #ffffff;\" href=\"https:\/\/www.philanthropy.org.au\/tools-resources\/fast-facts-and-stats\/\" target=\"_blank\" rel=\"noopener\">Fast facts and statistics on giving in Australia<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4cf12dac elementor-section-stretched elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4cf12dac\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_top&quot;:&quot;triangle-asymmetrical&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-top\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M738,99l262-93V0H0v5.6L738,99z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-105d5385\" data-id=\"105d5385\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-687c727e elementor-widget elementor-widget-heading\" data-id=\"687c727e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Find out how we can help at tax time<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-79b98230 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79b98230\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6ca16bff\" data-id=\"6ca16bff\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ef24dcd elementor-icon-list--layout-inline elementor-align-right elementor-tablet-align-center elementor-mobile-align-left elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5ef24dcd\" data-element_type=\"widget\" id=\"phone-call-blog\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul 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<strong>mail@saige.com.au<\/strong><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Charitable donations are tax deductible in Australia. To know whether your gift or contribution can be claimed at tax time, use this simple checklist.<\/p>\n","protected":false},"author":3,"featured_media":2071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/posts\/2065"}],"collection":[{"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/comments?post=2065"}],"version-history":[{"count":0,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/posts\/2065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/media\/2071"}],"wp:attachment":[{"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/media?parent=2065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/categories?post=2065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/saige.com.au\/wp-json\/wp\/v2\/tags?post=2065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}