Tax Time

"Tax time" is that period leading up to the end of the financial year. It's often the right time to find ways to reduce your tax by claiming deductions.

For many Australians, tax time is when they give to charitable causes.

Any contribution that you make to an organisation with deductible gift recipient (DGR) status will entitle you to a tax deduction. Although the minimum donation for tax deductibility is only $2.00, most people who claim deductions donate much larger amounts.

If you are a high net worth or ultra high net worth individual, a private ancillary fund or public ancillary fund can make giving at tax time much more tax effective. You can put significant tax deductible contributions into a fund that distributes to charitable causes on an annual basis, as determined by legislation and regulation.

We encourage you to look at tax deductible giving. Please seek advice from your financial adviser and tax adviser as well as visiting the Australian Taxation Office website for the relevant guidelines.