Claiming Deductions for Floor Relief Donations

The ATO will allow deductions for donations up to $10 made to 'bucket appeals' for the floods without needing to keep a receipt.

People who give to bucket appeals can claim a tax deduction equal to their contribution up to $10 in their 2010–11 tax return without the usual need to keep a receipt.

If a person makes donations over $10 in total to a number of bucket appeals in 2010–11, the person can only claim a maximum of $10 without needing to provide a receipt. Any amount above $10 will require a receipt.

Copyright 2014. My Tax Zone.