17 December 2013

Deductible gift recipient status for Prince’s Charities Australia

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, welcomes the announcement, in the Mid-Year Economic and Fiscal Outlook 2013-14, that Prince's Charities Australia will be able to accept tax deductible donations from 1 January 2014.

"It is a welcome development that His Royal Highness, the Prince of Wales, has chosen to expand his very substantial charitable activities to Australia," said Senator Sinodinos.

The Prince's Charities Australia proposes to engage in a range of activities that will make a significant contribution to the lives of many Australians. Activities already underway include a partnership between the Prince's School of Traditional Arts in London and Arts Victoria, the Enterprise Network for Young Australians, WaterAid Australia, and the Campaign for Wool and the Prince Charles Hospital Foundation.

Subject to an amendment to the Income Tax Assessment Act 1997 being passed by the Parliament to specifically name the Prince's Charities Australia as a DGR, Australian taxpayers that wish to support the Prince's Charities Australia will receive tax deductions for gifts made after 1 January 2014.