Gifts of $2.00 or more made to the Country Education Foundation of Australia Limited will now be tax deductible, Minister for Revenue and Assistant Treasurer, Senator Helen Coonan announced today.
The Foundation provides encouragement and financial support to disadvantaged young school leavers to help them into further education and to improve their career opportunities.
"The difficult decisions young people face when they leave school can be compounded by the tyranny of distance or the blight of drought when you live in rural and regional Australia," Senator Coonan said.
"Many young people have to leave their families and community to take a job in a metropolitan centre or study at TAFE or university."
The Country Education Foundation develops community foundations that provide grants to young people to help with the cost of getting started with accommodation, buying books and the myriad of costs facing a young student when they leave home.
"The Foundation is a practical effort to deal with the social and demographic issues rural Australia faces and tax deductibility status will enable the Foundation to continue its good work," 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.