Today, the Minister for Revenue and Assistant Treasurer, Peter Dutton, announced that the Government will introduce legislation to allow tax deductions for gifts of $2 or more to the Finding Sydney Foundation for an extended period until 27 August 2007.
The Foundation has as its principal objectives the search for the HMAS Sydney II and the HSK Kormoran, and the establishment of a virtual memorial to the sailors and the engagement. The HMAS Sydney II disappeared on 19 November 1941, after a battle with the German auxiliary cruiser HSK Kormoran off the Western Australian coast. The loss of the Sydney with its crew of 645 remains one of Australia’s greatest wartime mysteries.
The extension of specific listing of the Foundation as a deductible gift recipient will assist the Foundation to attract public support for its activities.
Subject to the legislation’s passage through Parliament, gifts to the Foundation will continue to be tax deductible from 27 August 2006.
Legislation to give effect to this announcement will be introduced as soon as practicable.
Taxpayers should ensure they receive a receipt for their donation.