How does donating to AWL help my tax?
You always hear the term ‘tax-deductible donation’ – but what does it mean for you and your tax?
Well, whether you give regularly or you’re donating for the first time – your donation to AWL can help boost your tax refund at the end of the financial year. (That’s June 30 in case you’re wondering.)
Keep in mind, that not everyone gets a tax refund and it’s dependent on your personal circumstances.
How does it work?
Without getting too technical – we’ll leave that to the accountants – you can claim any gifts to AWL off your tax bill when you complete your tax return.
Tax-deductions aside, you’re also helping desperate cats and dogs when they need you most.
It’s important to note: the ‘gift’ must be a donation where you don’t receive anything in return. For example, buying a ticket in a lottery isn’t tax-deductible.
What do I need to do?
1. Donate $2 or more
We’re a registered charity, so all donations of $2 or more given to the pets in our care are tax-deductible.
Plus – you’re helping lost and abandoned pets get the second chances they deserve.
2. Include the donations when you do your tax return
When you’re lodging your tax return, make sure you record and include all of your donations to AWL in the ‘gifts’ section. Talk to your accountant or tax agent if you need help with this.
3. Keep your donation receipts
Get and keep all of your donation receipts just in case you need to show your accountant, tax agent or the ATO.
myDeductions app is a handy app where you can record all of your tax deductions for the year.
4. Figure out if you made a gift or contribution
‘Gifts’ and ‘contributions’ are different kinds of donations, and the amount you can claim will depend on the type of gift or contribution that you make.
Generally, making a ‘gift’ is when you make a donation and receive nothing in return.
Click here to read the ATO’s definitions of gifts and contributions.
5. Get some help
Get some help from whoever does your tax for you. Whether you have a tax agent, tax accountant, or do your taxes yourself – ask for some help if you’re not sure about how to claim your donations.