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Tax deductible donations
Making a donation at End of Financial Year (EOFY) is not only good for the soul; it may also be good for your bank balance. Donations can reduce an individual’s taxable income, and money donated in June may result in money back in July.
Read on to find out how you and Cancer Council NSW can benefit this financial year from your tax-deductible donation. Use our calculator to estimate your deduction.
How do I claim a tax deduction?
- Make a donation to Cancer Council NSW 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.
How much can I claim?
Eligible donations to Cancer Council NSW can generally be claimed as a tax deduction in your tax return. While the tax benefit will depend on your individual circumstances, many donors are able to claim the full deductible amount of their eligible donation. There is also the option of electing to spread the tax deduction over up to 5 income years.
Visit the ATO’s website for information about tax-deductible donations and how the rules may apply to you.
How do I donate?
The easiest way to give is to donate securely online, but there are also many other ways to donate to Cancer Council NSW.
Can companies donate?
Yes. Companies can donate to Cancer Council NSW. Eligible gifts and donations may be tax deductible, depending on the company’s circumstances. For more information, please refer to the ATO’s website.
Does claiming a tax deduction on a donation affect the amount of money Cancer Council NSW receives?
No. Any tax benefit a donor may be entitled to claim is provided by the ATO through the donor’s tax return and does not reduce the amount received by Cancer Council NSW.
What are tax deductions?
If you make an eligible gift or donation to Cancer Council NSW, you may be able to claim the donation as a tax deduction when filing your personal income tax return. Tax deductions are a way to reduce your taxable income and the amount of tax that you pay.
What kinds of gifts and donations are tax deductible?
Cancer Council NSW is endorsed by the ATO as a Deductible Gift Recipient. This means that eligible gifts and donations made to Cancer Council NSW may be tax deductible.
Generally, to be tax deductible, a donation must be a genuine gift. This means you give money or property voluntarily and do not receive a material benefit in return.
If you receive something in exchange for your donation, such as a raffle ticket, event entry, or other goods or services, the payment may not qualify as a tax-deductible gift. In some circumstances, it may instead be treated as a contribution, which is subject to different tax rules.
However, small promotional items such as stickers, lapel pins, or badges that acknowledge your support of Cancer Council NSW will generally not affect the tax-deductible status of your donation
For more information, visit the ATO’s website guidance on gifts and donations.
Why make a tax deductible donation to Cancer Council?
Cancer Council is the only organisation in Australia that covers every aspect of every cancer. Each year we invest almost $15 million to support cancer research.
- Investment in cancer research
- Support for people affected by cancer
- Prevention programs in the local community