LEAD Action News Volume 22 Number 2 June 2024 18 of 73
When Is The Best Time to
Donate to a Charity?
From the point of view of a charity (us!) -
we’re happy to accept donations at any
time!
However, for you - when is the best time?
We’re glad you asked!
A good time to donate to The LEAD Group is
before the end of the financial year because
donations over $2 are tax-deductible!
That’s right! As a registered charity, your
donations to us can not only help us, but help
you. That’s a real win-win.
We visited the Australian Taxation Office (ATO)’s website, and this is what they say:
When a gift or donation is deductible
You can only claim a tax deduction for a gift or donation to an organisation that has the
status of a deductible gift recipient (DGR).
To claim a deduction, you must be the person that gives the gift or donation and it must meet
the following 4 conditions:
1. It must be made to a DGR.
2. It must truly be a gift or donation – that is, you are voluntarily transferring money or
property without receiving, or expecting to receive, any material benefit or advantage in
return. A material benefit is something that has a monetary value.
3. It must be money or property – this can include financial assets such as shares.
4. It must comply with any relevant gift conditions – for some DGRs, the income tax law
adds conditions affecting the types of deductible gifts they can receive.
[....]
To claim a deduction, you must have a record of your donation such as a receipt.
LEAD Action News Volume 22 Number 2 June 2024 19 of 73
And, if you’d like to read more, you can go ahead and read the full article here -
https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-
you-can-claim/gifts-and-donations
If you’d like to donate, here are our bank details. We ask that you donate via bank transfer otherwise a
chunk of your donation is eaten up by PayPal fees.
Account name: The LEAD Group Inc LEAF
BSB: 812170
Account No: 101078454
You can check out more about donating on our website.
https://leadsafeworld.com/direct-bank-transfer/
