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INCOME TAX ASSESSMENT ACT 1997 - SECT 30.228

Content of receipt for gift or contribution

             (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 .

             (2)  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.

             (3)  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.

             (4)  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.

             (5)  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.



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