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

Funding Arrangements – Tax Refund On Spot

The funding arrangements for higher education students in 2018 will remain the same as in 2017. The Government is seeking to create a higher education system that is higher in quality, more accessible, more competitive and more sustainable. The Minister for Education and Training has been consulting with the higher education community on possible reforms and has released a policy options paper to facilitate further discussions.

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.

For more information on myTax 2018, myGov 2018, Online Tax Return 2018 , HECS, Tax related or any other related matter please contact us at 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au