How Do Tax Deductible Donations Work: The impact of your tax deductible donation

Donating to charity is a great way to contribute to a cause you feel passionate about whilst boosting your tax return.

A tax deductible gift or donation will reduce your taxable income, resulting in a higher refund on tax paid throughout the year or a reduced ATO debt when you complete your tax return.

How your tax deductible donation to ACRF will help fund ground-breaking cancer research

Thanks to the generosity of our supporters, each year ACRF is able to award high-impact grants, allowing Australia’s best cancer researchers to embark on ground-breaking research projects.

Donations to ACRF supported one of the most impactful breakthroughs in cancer research. ACRF provided seed-funding for Prof. Ian Frazer’s research into the cervical cancer vaccine which is soon to set Australia as the first country to effectively eliminate the disease.

Your donation enables ACRF to continue to back bold ideas – ideas that lead to breakthroughs and discoveries that help each individual diagnosed with this complex and disruptive disease.

Donate by 30 June and 100% of your donation will go to cancer research.

Without your help we would not be able to change the odds for Australians like Naomi, by continuously exploring new and improved ways to prevent, detect and treat all types of cancer.

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Donate to ACRF before June 30 and claim a tax deduction when submitting your tax return for this financial year.

Charity tax deductible donations

  • What is a tax deductible donation?

    Every donation you make to charity is only tax deductible if the organisation is an ATO endorsed deductible gift recipient (DGR). Australian Cancer Research Foundation (ACRF) is a DGR organisation and also has the registered charity tick from the Australian Charities and Not-for-profits Commission (ACNC). This means that ACRF complies with the transparency and accountability standards of the ACNC Charity Register.

    To claim a tax deduction for a gift or donation, it must also meet the below conditions:

    • It must be made to a DGR organisation.
    • 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 an item that has a monetary value such as a raffle ticket, fundraising chocolate or fundraising dinner ticket.
    • The gift or donation must be of money or property. This can include financial assets such as shares.
    • The gift or donation must comply with any relevant gift conditions. For some DGRs, the income tax law adds extra conditions affecting types of deductible gifts they can receive.

    To claim a tax deduction, you must have a record of your donation, such as a receipt. ACRF provides prompt receipting for all donations.

    For full information on charity donation tax deductions, please visit the ATO website – Gifts and Donations or speak with your financial adviser or accountant.

  • How much of my donation can I claim on my taxes?

    The amount you can claim depends on the type of gift. For gifts of money, it is the amount of the gift, but it must be $2 or more. For gifts of property, there are different rules, depending on the type and value of the property.

    A tax deduction for most gifts is claimed in the tax return for the income year in which the gift is made.

    You need to be aware that the tax deduction claimed for donating a gift cannot add to or create a tax loss. The deduction can reduce your assessable income to nil in the tax year in which the gift is made, but any excess cannot be claimed in that year.

    However, in advance of lodging your tax return, you can choose to spread the tax deduction over a period of up to five income years.

  • Can companies make a tax deductible donation to charity?

    Corporate donations to DGR organisations are tax deductible. Businesses can claim the same benefits from donating that individuals do. Just like an individual donation, a corporate donation must be $2 or more in value to be tax deductible.

    Advertising or sponsorship

    If you are a business and you support a DGR through advertising or sponsorship this is generally not a gift. You may be able to claim a tax deduction as a business expense.

     

  • Do I need a receipt to claim my donation?

    Like any other tax deduction, you must have a receipt. You should keep records of all tax deductible gifts and contributions you make. The Australian Taxation office recommends keeping receipts for five years after the completion of your tax return to support your claim.

  • What is the minimum donation for a tax deduction?

    In order to claim a tax deduction, the minimum you can donate is $2.

  • Is there a tax deductible donation limit?

    There is no limit to a tax deductible donation as long as it is $2 or more. There is only a limit as to how much you can claim in a financial year.

     

  • What are the tax benefits of donating to charity?

    A tax deductible gift or donation will reduce your taxable income, resulting in a higher refund on tax paid throughout the year or a reduced ATO debt when you complete your tax return.

     

  • Why make a tax deductible donation to cancer research?

    Donate to our tax appeal by June 30 and 100% of your donation will go to cancer research. 

    At ACRF, our mission is to outsmart cancer, this cannot be done without your donations to help fund ground-breaking cancer research.

    Together we can accelerate significant breakthroughs in cancer prevention, diagnosis and treatment by providing world-class cancer researchers with the tools they need to improve the prevention, diagnosis and treatment of all types of cancer.

    So why not boost your tax return and help us back the brightest minds in cancer research by making a tax deductible donation today.

  • What have your donations helped us achieve?

    Your donations to ACRF help fund research into all types of cancer across research institutes, universities and hospitals all across Australia. These initiatives look for new and improved ways to prevent, detect, and treat all types of cancer.

    Some of our key achievements include:

    • Cervical Cancer Vaccine; Supporters like you contributed to the initial seed funding to Professor Ian Frazer’s research into the development of a cervical cancer vaccine. The vaccine has now been administered to millions globally.
    • The Pill That Melts Cancer; Your donations contributed to the development of a revolutionary treatment that melts away certain advanced forms of Chronic Lymphocytic Leukemia. This treatment is currently being trialed for the improved treatment of lung and prostate cancers.
    • A world without melanoma; Your donations contributed to the ACRF Australian Centre of Excellence in Melanoma Imaging and Diagnosis (ACEMID). The project supporting the vision of a ‘world without melanoma’ is aiming to be one of the largest melanoma surveillance and early detection programs in the world.
    •  Zero Childhood Cancer; With your contributions, we became one of the founding partners of an initiative to tackle the most difficult cases of infant, childhood and adolescent cancer in Australia. This world-first personalised medicine program already has over 400 children enrolled. The ultimate aim of the program is to see zero deaths from childhood cancer.

  • How important is your donation to ACRF?

    ACRF receives no government funding and relies on generous donations from individuals and businesses. Your generosity means we can continue to fund vital cancer research and improve the prevention, detection and treatment of all types of cancer.

     

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