Oztaxline Tax Tips & News Australia

Are fundraising expenses deductible?
For organisations that are not exempt from income tax, fundraising expenses will be tax deductible to the extent they are incurred in deriving assessable income.

EXAMPLE:
A German club that is a taxable non-profit organisation holds an Oktoberfest to raise funds. The sales of food, drinks and souvenirs to members of the public will be assessable to the club. Expenses the club incurred in making these sales will be deductible.

However, there are some deductions that do not have to be incurred in deriving assessable income, for example, superannuation contributions for employees

# posted by L.Y.B. @ 9:38 PM