A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

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    View history reference

Subdivision 30-CA - Administrative requirements relating to ABNs    View history reference [No equivalent]

Requirements

SECTION 30-228  Content of receipt for gift or contribution  

 View history reference

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)  

 View history reference
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)  

 View history reference
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)  

 View history reference
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)  

 View history reference
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.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page