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Declaration of a disaster for the purposes of tax deductibility - Hurricane Sandy



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David Bradbury MP Assistant Treasurer

Minister Assisting for Deregulation

Media Release

DECLARATION OF A DISASTER FOR THE PURPOSES OF TAX DEDUCTIBILITY - HURRICANE SANDY

Assistant Treasurer David Bradbury today declared the hurricane that hit the United States in late October 2012, a disaster for tax purposes.

This declaration allows Australian taxpayers to claim an income tax deduction for donations made to the relief effort.

“This tragic event has claimed the lives of many people, devastated the local economy, and caused massive damage across the coastline,” said Mr Bradbury.

“Australia’s strong links with the United States and its people mean that this event has touched the hearts of Australians.

“The sympathies and thoughts of the Australian Government and all Australians have been with the people of the United States through this difficult time.”

Funds still need to apply to the Australian Taxation Office (ATO) for formal endorsement, and the ATO has established a fast track process for this purpose.

Donations to funds are tax deductible for a period of two years from 29 October 2012. Taxpayers should ensure that they retain a receipt for their donation.

Further information on establishing a developed country disaster relief fund is available at the ATO website www.ato.gov.au/nonprofit.

Donations for the devastation caused by Hurricane Sandy in the Caribbean and Haiti can be made to organisations currently registered on the Overseas Aid Gift

Deduction Scheme. Information is available at http://www.ausaid.gov.au/ngos/Pages/approved_funds.aspx.

5 November 2012

Media contact: Justin Koek 0400 126 939