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Are School Fundraisers Tax Deductible?

School fundraisers can be a great way to support your child's school and community. Many parents and teachers wonder if the money they donate to school fundraisers is tax deductible. In this blog post, we'll explore whether school fundraisers are tax deductible and what you need to know to make sure you're taking advantage of any available tax benefits.

First, it's important to understand that not all school fundraisers are tax deductible. In order for a donation to be tax deductible, it must be made to a qualified organisation. Generally, this includes organizations that are recognized by the Australian Taxation Office (ATO) as charities, not-for-profits, or deductible gift recipients (DGRs).

Schools and parents and citizens associations (P&Cs) may be considered DGRs, which means that donations to these organisations may be tax deductible. However, not all fundraising activities conducted by these organisations qualify for tax deductions. For example, if the school or P&C is selling goods or services, such as cookies or raffle tickets, the donation amount may not be tax deductible.

To ensure that your donation is tax deductible, it's important to ask the school or P&C about their fundraising activities and whether they are considered tax deductible. This information should be readily available on their website or in fundraising materials. Additionally, you can check the ATO's website to see if the organisation is registered as a DGR.

It's also important to keep good records of your donations. This includes getting a receipt or acknowledgment from the school or P&C, which should include the amount of your donation and whether it is tax deductible. You may also need to keep other documentation, such as a receipt to support your deduction if the ATO requests proof.

In summary, school fundraisers can be tax deductible, but it depends on the specific organisation and fundraising activity. To ensure that your donation is tax deductible, make sure the organisation is registered as a DGR and ask about the tax deductibility of their fundraising activities. Additionally, keep good records of your donations and consult with a tax professional if you have any questions. By taking these steps, you can support your child's school while also potentially reducing your tax liability.