The Minister for Revenue and Assistant Treasurer, Senator Helen Coonan, announced that from today gifts to the Constitution Education Fund to the value of $2 or more will be deductible for income tax purposes.
Senator Coonan said that the organisation will administer a nationwide competitive prize scheme commencing in 2004 that involves participants engaging in debates, public speaking and essay writing.
"The Constitution Education Fund is designed to complement the Government's Discovering Democracy initiative in schools. The primary object of Fund is to educate students of all ages about the Australian Constitution and the workings of all levels of government.
Deductible gift recipient status will help the fund attract public support so that educational and personal development opportunities will be available for a broad scope of students, particularly for finalists who spend part of the Government's Celebrating Democracy Week in Old Parliament House meeting distinguished Australians." Senator Coonan said.
Legislation to give effect to this announcement will be introduced as soon as practicable. Taxpayers should ensure they receive a receipt for their donation.