ATO record keeping reminder for gift and donation deductions

The ATO has urged taxpayers to ensure that they have good records of all gifts and donations to claim tax deductions this tax time.

According to the ATO, last year, nearly two-thirds of the charitable claims adjusted were because taxpayers could not prove that they made the donation.

Indeed, according to the ATO, the main reasons that make a donation or gift not tax-deductible include:

  • giving to an organisation that the ATO does not endorse as a DGR;
  • receiving or expecting to receive a monetary or personal benefit for the donation;
  • not keeping good records of the donations and gifts (i.e., receipts); and
  • incorrectly claiming tax deductions for donations taxpayers intend to make in their will; or
  • incorrectly claiming for workplace giving that has already reduced the amount of tax
    paid in each pay period.
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