The Assistant Treasurer Senator Rod Kemp has announced that, from today, gifts to the value of $2 or more made to the Australian Nuffield Farming Scholars Public Fund will be deductible for income tax purposes.
The Australian Nuffield Farming Scholars Public Fund has been established to raise funds to provide scholarships to young farmers. The Funds support of Australian agriculturists will encourage excellence in all aspects of Australian agricultural production, distribution and management through the continuous development of a unique network of industry leaders and innovators.
Tax deductible gift status will assist the Fund to attract public support for its activities.
Legislation to give effect to the Governments decision will be introduced as soon as practicable and taxpayers should ensure that they receive a receipt for their donation.
Canberra
17 April 2001
Media contacts:
Paul Edwards Assistant Treasurers Office (02) 6277 7360
Brett Peterson Australian Taxation Office (02) 6216 1542