The Minister for Revenue and Assistant Treasurer, Peter Dutton MP, has announced the Government’s decision to amend the income tax law to allow deductions for gifts to the value of $2 or more to the:
- Dunn & Lewis Youth Development Foundation Limited (the Foundation) for an additional one-year period until 31 December 2007;
- The Rotary Leadership Victoria Australian Embassy for Timor-Leste Fund Limited (the Timor Fund) for an additional three‑year period until 31 December 2009; and
- The St George’s Cathedral Restoration Fund (St George’s Fund) for an additional one year period until 31 December 2007.
The Foundation was established to assist with the building of a memorial complex to two victims of the Bali bombing.
The Timor Fund was established in 2003 to build a permanent embassy for the country of Timor-Leste. Land for this embassy has been provided by the Australian Government.
The St George’s Fund was established to raise money for urgent structural repairs and essential reconstruction and conservation work to the Cathedral building, Burt Memorial Hall and the Deanery.
Taxpayers should ensure that they obtain a receipt for their donation.
Legislation to amend the Income Tax Assessment Act 1997 to give effect to this announcement will be introduced as soon as practicable.