Donations

Figure 1. Donations.

Source: Wix (n.d.)

Donations

Donations are sums of money, small or large, from either a person or a group. Donars donate may opt to either donate to the person or into the nominated bank account of the project. Donations are often tax deductable. This makes it attractive to doners. However, just because an organisation is not-for-profit, it does not mean the donation will be tax deductable (Australian Taxation Office 2024). For the status of tax deductable, the organisation would need to be registered as a charity to be a deductable gift recipient (Australian Charities and Not For Profits Commission n.d.).

Annotated Written Appendix for Donations

Australian Charities and Not For Profits Commission. n.d. "Deductible gift recipients (DGR) and the ACNC." Accessed January 13, 2024. https://www.acnc.gov.au/tools/factsheets/deductible-gift-recipients-dgr-and-acnc

This is an in-text citation.

Australian Taxation Office. 2024. "Gifts and Donations." Accessed January 13, 2024. https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/gifts-and-donations

This is an in-text citation.

Wix. n.d. Figure 1. Donations.

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