Today I am announcing the Government's decision to amend the income tax law to allow tax deductions for gifts to the value of $2 or more to the St Paul's Cathedral Restoration Fund.
As a result, gifts made to the Fund from today to 22 April 2004, will be deductible for income tax purposes.
The Fund has been established to raise money for the restoration, refurbishment and improvement of St Paul's Anglican Cathedral, Melbourne and in particular for important repair and restoration work to the Cathedral spires.
St Paul's is an important place of worship and a significant Melbourne landmark that has pride of place at the heart of the city. The Cathedral was consecrated in 1891, with the erection of the spires beginning in 1926. In recent years there has been an appeal to enable the restoration of the Cathedral's magnificent organ, and the Cathedral has benefited from a grant under the Government's Federation Fund. The granting of gift deductibility status will complement these measures and assist the Cathedral to raise additional funds, thereby ensuring the important restoration work can be completed.
Legislation to give effect to this announcement will be introduced as soon as practicable.
Taxpayers should ensure that they receive a receipt for their donation.