The Assistant Treasurer Senator Rod Kemp, announced that from today, gifts to the value of $2 or more made to the Young Endeavour Youth Scheme will be deductible for income tax purposes.
The Young Endeavour Youth Scheme has been established to offer a challenge to our youth through structured sail training programmes that create a difference in their lives and, through them, their communities.
Tax deductible gift status will assist the Scheme to attract public support for its activities.
Legislation to give effect to the Government's decision will be introduced as soon as practicable and taxpayers should ensure that they receive a receipt for their donation.
CANBERRA
25 September 2001
Contact Officer: Kathy Gruber Australian Taxation Office (02) 6216 1493