Ancillary Fund Returns
Public and private ancillary funds (which are categories of
deductible gift recipients) must lodge an annual information return with us, in
addition to any requirement to lodge an income tax return.
Even if an ancillary fund is exempt from income tax, it
must still lodge an annual information return.
Private ancillary funds
Introduction
This fact sheet explains the deductible gift recipient
(DGR) category for private ancillary funds (private AFs) that came into effect
on 1 October 2009.
It explains:
- the requirements for endorsement
- how to apply for DGR endorsement
- other issues, such as revocation of endorsement and suspension of trustees
- the transitional arrangements for existing PPFs.
Publications and contacts for more information are also
provided.
What is a DGR?
A DGR is an entity that is entitled to receive income tax
deductible gifts.
All DGRs must be endorsed by us, unless they are listed by
name in the income tax law.
What is DGR
endorsement?
DGR endorsement is the approval process for organisations that want to be endorsed by us as DGRs.
Endorsement as a DGR allows donors to claim tax deductions
for most types of gifts or donations they make to your organisation.
From 1 October 2009, prescribed private funds (PPFs)
are no longer prescribed in tax law and instead obtain their DGR status through
the endorsement process. The category these funds seek DGR endorsement under is
the category for private AFs.
For more information on myTax 2019, online tax return 2019, myGov 2019, Tax Return 2019 , or any other tax related matter, please call our professional accountant on 1300 768 284 . For more information please contact us at 1300768284 or you can email us atenquiry@taxrefundonspot.com.au
Home Office Expense and Running Cost
You may be entitled to claim deductions for home expenses including a computer, phone or other electronic devices you are required to use for work purposes, as well as a deduction for running costs. As an employee, generally you can’t claim a deduction for occupancy expenses, including rent, mortgage interest, council rates and house insurance premiums. If you are an employee and required to use your computer, phone or other electronic device for work purposes, you may be able to claim a deduction for your costs.
If you perform some of your job from a home office, you may be entitled to a deduction for the costs you gain in running it, including:
- for home office equipment, such as computers, printers and telephones, the cost (for items costing up to $300) or decline in value (for items costing $300 or more).
- work-related phone calls (including mobiles) and phone rental (a portion reflecting the share of work-related use of the line) if you can show you
- are on call, or
- have to call your employer or clients frequently while you are away from your workplace
- heating, cooling and lighting
- the costs of maintenance to your home office furniture and fittings cleaning expenses
For more information on myTax 2018, myGov 2018, Online Tax Return 2018 , or any other related matterplease contact us at 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au
GET FREE Tax Refund estimate and Option of getting refund in 1 Hour, prior year Tax returns are also available, Just fill in your basic details on our website at www.taxrefundonspot.com.au or by emailing us on enquiry@taxrefundonspot.com.au we will check your employment history from ATO records, personal visit available at tax refund on spot.
We also have our separate department for Home loan, refinancing, car & truck loan.