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Re: Donation limit?

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Is there any limit on what a coporate entity can donate to a DGR to receive a full deduction?

 

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Devotee

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Taxable income for the year as donations cannot generate a tax loss - section 26-55 Income Tax Assessment Act 1997.

 

You can also apportion donations over 5 years by filling out this form - you don't need to submit it but you may want to keep it in your top drawer should the ATO ever ask for it.

1 REPLY 1

Most helpful response

Devotee

Replies 0

Taxable income for the year as donations cannot generate a tax loss - section 26-55 Income Tax Assessment Act 1997.

 

You can also apportion donations over 5 years by filling out this form - you don't need to submit it but you may want to keep it in your top drawer should the ATO ever ask for it.