The Government has decided to amend the income tax law to extend the period during which tax deductible gifts of the value of $2 or more can be made to the Australian National Korean War Memorial Trust Fund (the Fund).
As a result, gifts made to the Fund for the period from 2 September 1996 up to and including 1 September 1999 will be tax deductible.
The Fund was established to raise moneys to construct a Korean War Memorial on Anzac Parade in Canberra.
The Korean War took place from 25 June 1950 to 27 July 1953. Australian troops were involved in heavy fighting at Kapyong, Maryang San and The Hook. The Memorial will be located alongside others commemorating conflicts involving Australian armed forces including the two World Wars and the Vietnam War.
Legislation to give effect to the Government’s decision will be introduced as soon as practicable.
Taxpayers should ensure that they receive a receipt for their donations.CANBERRA
27 October 1998
CONTACT OFFICERS:
Penny Farnsworth
Assistant Treasurer’s Office
(02) 6277 7360
Deborah Robinson
Australian Taxation Office
(02) 6216 1112