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Written by Anika Valenti (Senior Solicitor) and Ruby Langton-Batty (Intern)
Across the country, hundreds of Indigenous cultural organisations are working to revitalise, strengthen and protect our arts, languages and cultural expressions. These organisations are at the heart of Indigenous communities, nurturing the cultural heritage that has been handed down through the generations for millennia. They also provide invaluable resources and expertise, bringing social and economic benefits to communities.
In July 2019, the Income Tax Assessment Act 1997 (Cth) (Tax Act)[1] was amended. Certain additional types of Indigenous cultural organisations are now eligible to be endorsed as a deductible gift recipient (‘DGR’). It now includes the promotion of Indigenous languages and “movable cultural heritage” as a category of cultural organisation eligible for DGR status.[2] This means that some Indigenous cultural organisations may be eligible to receive new funding opportunities through tax deductible donations.
What is a Deductible Gift Recipient?
A DGR is an organisation, institution or fund that is permitted to receive tax deductible gifts. This means that anyone who gives a gift to an organisation that is registered as a DGR can claim back the whole or part of that gift in their tax return. This encourages philanthropy because it offers tax incentives to people who make donations to DGR endorsed organisations.
Read our article for more information
The attached article takes a closer look at how this amendment affects Indigenous cultural organisations and outlines the requirements to become endorsed as a DGR. It explains the criteria and includes a helpful checklist. While the article is a useful overview, it is not intended to provide or replace legal advice.
Article:
If you would like to know more about how you can apply for Deductible Gift Recipient endorsement, contact Terri Janke and Company on (02) 9693 2577 or email tjc@terrijanke.com.au.
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[1] Income Tax Assessment Act 1997 (Cth) (“Tax Act”), section 30-17. [2] Treasury Laws Amendment (2018 Measures No. 4) Act 2019, schedule 11.
Photo credit: Investment Zen, Creative Commons license: CC BY 2.0.
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