Your Geelong business tax accountants this festive season

The Christmas-New Year period is a time of giving and celebration, so why not pass on some goodwill and make a donation to a worthy organisation?

If you are wondering how to make a donation, which is also tax deductible, our experienced business tax accountants in Geelong can help you understand the Australian Taxation Office’s rules around donations.

There are so many worthy organisations out there, doing great work across a range of different fields, that rely on donations to run their programs.

At CD&G Accountants, our business tax accountants in Geelong are experts when it comes to the ATO’s compliance regulations. Whether you are a sole trader or have structured your business in a partnership, a trust or a company, our team provides clients with a range of small business accounting services to meet the requirements of your business and the ATO.

And that includes making sure any tax-deductible gifts you give this festive season meets the ATO’s conditions. First up, only gifts to organisations that have ‘deductible gift recipient’ endorsement are tax deductible.

There are several other conditions including making sure the gift lives up to its name. Put simply, it must be a real gift – either money or real estate – that does not bring the giver any advantage or material benefit.

If you have donated money, you should be able to claim that amount as a tax deduction.

Helping charity organisations that exist to help others is a perfect fit in the giving season. So spread the cheer and consider making a tax-deductible gift to a worthy charity.

Please don’t hesitate to contact us at CD&G Accountants for more information. We are the business tax accountants Geelong clients can trust for correct information about tax-deductible gifts and the conditions that surround them.