A New Tax System (Tax Administration) Act 1999 (179 of 1999)
Schedule 7 Endorsement of deductible gift recipients
Income Tax Assessment Act 1997
8 After Subdivision 30-C
Insert:
Subdivision 30-CA - Administrative requirements relating to ABNs
Guide to Subdivision 30-CA
30-226 What this Subdivision is about
An entity must ensure certain details must appear on a receipt it issues for a gift that:
(a) is made to the entity or a fund, authority or institution it operates; and
(b) is of a kind that the giver can deduct under Subdivision 30-A.
If the entity has an ABN, the Australian Business Registrar must state in the Australian Business Register that the entity is a deductible gift recipient.
Table of sections
Requirements
30-227 Entities to which this Subdivision applies
30-228 Content of receipt for gift
30-229 Australian Business Register must show deductibility of gifts to deductible gift recipient
[This is the end of the Guide.]
Requirements
30-227 Entities to which this Subdivision applies
(1) This Subdivision sets out requirements relating to a *deductible gift recipient.
(2) A deductible gift recipient is an entity or *government entity that:
(a) is a fund, authority or institution described in item 1, 2, 4, 5 or 6 of the table in section 30-15 and is:
(i) endorsed under Subdivision 30-BA as a deductible gift recipient; or
(ii) mentioned by name in that table or in Subdivision 30-B; or
(iii) a *prescribed private fund; or
(b) is endorsed as a deductible gift recipient for the operation of a fund, authority or institution described in item 1, 2 or 4 of the table in section 30-15.
30-228 Content of receipt for gift
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 30-170.
30-229 Australian Business Register must show deductibility of gifts to deductible gift recipient
(1) If a *deductible gift recipient has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the deductible gift recipient a statement that it is a deductible gift recipient for a specified period.
Note 1: An entry (or lack of entry) of a statement required by this section does not affect whether you can deduct a gift to the fund, authority or institution.
Note 2: This section will apply to all entities and government entities that are endorsed as deductible gift recipients under Subdivision 30-BA, because they must have ABNs to be endorsed. It will also apply to other entities described or named in Subdivision 30-A if they have ABNs.
(2) If the *deductible gift recipient is a deductible gift recipient only because it is endorsed under Subdivision 30-BA as a deductible gift recipient for the operation of a fund, authority or institution, the statement must name the fund, authority or institution.
(3) The *Australian Business Registrar may remove the statement from the *Australian Business Register after the end of the period.
(4) The *Australian Business Registrar must take reasonable steps to ensure that a statement appearing in the *Australian Business Register under this section is true. For this purpose, the Registrar may:
(a) change the statement; or
(b) remove the statement from the Register if the statement is not true; or
(c) remove the statement from the Register and enter another statement in the Register under this section.
(5) Making, changing or removing an entry in the *Australian Business Register as required or permitted by this section does not contravene section 16 of the Income Tax Assessment Act 1936 (Officers to observe secrecy).