The end of the financial year (EOFY) is often a time filled with spreadsheets, receipts, and the annual hunt for that missing login to your myGov account (if you know, you know). Despite this being a somewhat stressful time, there is a little silver lining you might not know about: acts of kindness can be tax deductible.
That’s right! If you’ve donated $2 or more to a registered Australian charity this financial year, you may be able to claim it back on your tax return. It’s one of those rare win-win moments; you help a cause close to your heart, and the ATO gives you a little nod of appreciation in return.
Why donate this EOFY?
EOFY giving is a small but powerful way to make a difference. Your contribution can go toward making a real, meaningful impact to someone’s life. And when that gift is tax deductible, it means you’re not just doing good for someone else, you’re also getting a little something back in return. It doesn’t have to be a big gesture. A simple $10 donation to a registered charity can still be claimed. When enough of us do that, it all adds up to lasting change.
A few quick EOFY donation tips
- Only donations of $2 or more are tax deductible.
- Make sure the organisation is a Deductible Gift Recipient (DGR) – you’ll usually see this listed on their website or receipt.
- Keep your donation receipts – you’ll need them when lodging your tax return.
- Donations must be made before June 30 to count for this financial year.
How can I donate to a good cause this EOFY?
Being kind doesn’t need a reason but knowing it can also help your tax return is a bonus. ProjectKindness is a registered Deductible Gift Recipient (DGR) so you can rest assured that your donation over $2 will make a lovely addition to your FY24-25 tax return.
So, as June 30 approaches, we ask that you take a moment to give what you can. It could be the most rewarding receipt you file in your tax return this year.
