11 September 2007

Extension of Tax Deductibility of Gifts to the Xanana Vocational Education Trust

The Minister for Revenue and Assistant Treasurer, Peter Dutton, has announced the Government’s decision to amend the income tax law to allow for deductions for gifts of $2 or more donated to the Xanana Vocational Education Trust effective from 21 July 2007 for an additional two-year period until 20 July 2009.

The Xanana Vocational Education Trust aims to help create a self-sustaining vocational education system for Timor-Leste.

Taxpayers should ensure they receive 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.