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).