UPDATE | Public submissions now open: DGR Status for Men’s & Women’s Sheds
In the 2019-20 Budget, the Government announced it will establish a DGR general category to enable Men’s Sheds and Women’s Sheds to access DGR status from 1 July 2020. The Government’s decision will be implemented through an amendment to the Income Tax Assessment Act 1997.
DGR status allows an organisation to receive gifts for which donors are able to claim an income tax deduction for gifts of $2 or more from the date specified in the legislation. The DGR tax arrangements are intended to encourage philanthropy and provide support for the not-for-profit sector.
After participating in consultations over the past few months, The Treasury is now seeking public submissions on the draft bill and explanatory memorandum for the new deductible gift recipient (DGR) general category for Men’s Sheds and Women’s Sheds.
AMSA has been heavily involved in the development of the draft bill and explanatory memorandum, we support The Treasury’s draft.
We encourage members to review the documents and make a submission if you feel one is necessary.
If you have any questions on this please contact The Treasury. Contact details are available on the web page.