Taxation Ruling

TR 2000/12W

Income tax: deductible gift recipients - the gift fund requirement

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FOI status:

Notice of Withdrawal

Taxation Ruling TR 2000/12 is withdrawn with effect from today.

1. Taxation Ruling TR 2000/12 explains the requirement for a deductible gift recipient (DGR) to maintain a gift fund. Aspects of the Ruling are no longer accurate following the legislative amendments in the Tax Laws Amendment (2006 Measures No. 7) Act 2007 (No. 55 of 2007) that took effect from 12 April 2007.

2. Amongst other things, these amendments remove the gift fund requirement for an entity that is a deductible fund, authority or institution. For an entity that operates a deductible fund, authority or institution, the requirement to maintain a separate gift fund remains. However, where an entity operates more than one deductible fund, authority or institution, it can consolidate its multiple gift funds into a single gift fund. These amendments also make explicit the current requirements for all DGRs to maintain adequate accounting records so that donations of money or property can be identified separately from other receipts and their uses can be tracked. As a result of these amendments that take effect from 12 April 2007, TR 2000/12 does not accurately reflect the current law.

3. Guidance on the gift fund requirements for a deductible gift recipient is provided in the publication GiftPack, which is a publication listed in the Schedule of documents containing precedential ATO views. Given there is potential for confusion between GiftPack and TR 2000/12 and that the Ruling is no longer current, TR 2000/12 is hereby withdrawn.

Commissioner of Taxation
26 November 2008

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

TR 92/1
TR 95/27
TR 97/16

Subject References:
gifts and donations
gifts to organisations

Legislative References:
ANTS(GST)TAA 1999 Schedule 7
ITAA 1997 Division 30
ITAA 1997 Subdivision 30-B
ITAA 1997 Subdivision 30-BA
ITAA 1997 30-15
ITAA 1997 30-15 item 2
ITAA 1997 30-25 item 2.1.1
ITAA 1997 30-25 item 2.1.10
ITAA 1997 30-40 item 3.1.1
ITAA 1997 30-45 item 4.1.1
ITAA 1997 30-45 item 4.1.3
ITAA 1997 30-50 item 5.1.2
ITAA 1997 30-55 item 6.1.1
ITAA 1997 30-100 item 12.1.1
ITAA 1997 30-100 item 12.1.2
ITAA 1997 30-100 item 12.1.3
ITAA 1997 30-100 item 12.1.4
ITAA 1997 30-120
ITAA 1997 30-125(1)(c)
ITAA 1997 30-125(2)(d)
ITAA 1997 30-125(4)
ITAA 1997 30-125(4)(a)
ITAA 1997 30-125(4)(b)
ITAA 1997 30-125(4)(c)
ITAA 1997 30-125(5)
ITAA 1997 30-125(6)
ITAA 1997 30-125(7)
ITAA 1997 30-145
ITAA 1997 30-160
ITAA 1997 30-170
ITAA 1997 30-228(a)
ITAA 1997 30-265
ITAA 1997 30-300

Other References:
GiftPack