Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

ATO updates disaster relief fund list

The ATO has released an updated list of Australian disasters that meet the criteria for endorsement as tax-deductible funds.

Tax&Compliance Grace Ormsby 16 January 2020
— 1 minute read

In response to a disaster, the Tax Office acknowledges that individuals, companies and organisations may wish to collect funds or make donations to help victims.

Advertisement
Advertisement

For a fund to be eligible for endorsement as a developed country disaster relief fund, the disaster must be recognised by a Treasury minister as a disaster.

The following disasters have met the legal requirements as required by the ATO (with the date listed the start date for tax-deductible gifts able to be claimed for this purpose):

Townsville floods (31 January 2019)

Bushfires – NSW (11 November 2019)

Bushfires – The Duck Pond fire, SA (11 November 2019)

Bushfires – The Yorketown fire, SA (20 November 2019)

Bushfires – The Cudlee Creek, Kangaroo Island and Angle Vale fires, SA (20 December 2019)

Bushfires – The Keilira fire, SA (30 December 2019)

Bushfires – Victoria (2 January 2020)

The ATO has noted that tax deductions for donations to the above disaster relief funds can usually only be claimed for the first two years after the disaster is declared.

ATO updates disaster relief fund list
image intro
accountantsdaily logo

The Accountants Daily 30 Under 30 Awards
This prestigious awards ceremony is the benchmark for excellence, recognising the industry’s most distinguished professionals, aged 30 and under across Australia, highlighting their outstanding achievements and dedication within the industry. Register to the waitlist today to be first in line for updates on when tickets to attend become available, visit accountantsdaily30under30.com.au to join the waitlist.

Tax&Compliance