Looking to lower your taxable income and do a good deed as well? Consider donating to Cancer Council NSW.
With the end of financial year around the corner, now’s the perfect time to make a difference to people impacted by cancer.
When you give to Cancer Council NSW, you won’t just be contributing to an important cause, but you’ll also boost your tax refund.
What donations are tax-deductive
You can claim tax deductions on donations that are $2 or more. They can be a one-off donation or monthly donations.
Keep in mind that if you receive something in exchange for the donation, such as a raffle ticket or pen, then it doesn’t qualify as a tax deduction. The Australian Tax Office defines this as a transaction where you receive a good or service in return for the money donated.
The tax deduction is not just for individual donors, but businesses can also claim gifts to charity as long as they’re cash gifts.
When you lodge your tax return online or with a tax agent, record your donation on Section D9 Gifts or donation.
A deduction for a gift can reduce your accessible income to nil in a tax year, but it can’t create or add to tax loss. If it does, the deduction can be spread over a period of up to five years.
If you want to know how much you can save, use our handy calculator. Enter in your donation amount and your income bracket and it will calculate your estimated savings.
Why donate to Cancer Council NSW
Cancer Council NSW is over 94% community funded, which means we rely on the generosity of caring and compassionate people like you. Every dollar donated goes towards four key areas of our work:
Supporting people affected by cancer when they need it most.
Speaking out on behalf of the community on cancer issues.
Empowering people to reduce their cancer risk through prevention programs.
Funding vital cancer research to find new and better ways to detect and treat cancer.
Please make a generous gift today and support life-saving cancer research. Your donation will bring us closer to a cancer free future.