The donations would be used to provide a product to a person in need. I don't want to register as a charity or claim tax deductions for the donations etc. I just want to help people without getting myself into trouble!
HI @Jen9
Let’s work this out and see what this’ll mean for you.
Yes, you can receive a donation or gift.
How this relates to your business- an amount received as a gift doesn’t generally constitute income according to ordinary concepts. Providing the gift was made gratuitously and was not in return for your services.
So, simply put, if it’s a gift or donation and not return for your services. It wouldn’t be classed as income.
If you meet that then you're good to go.
This was supposed to say that I have started a sole trader business and have a charitable arm. I want to receive donations in order to provide a product to someone in need.
HI @Jen9
Let’s work this out and see what this’ll mean for you.
Yes, you can receive a donation or gift.
How this relates to your business- an amount received as a gift doesn’t generally constitute income according to ordinary concepts. Providing the gift was made gratuitously and was not in return for your services.
So, simply put, if it’s a gift or donation and not return for your services. It wouldn’t be classed as income.
If you meet that then you're good to go.
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