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Deductibility of gifts to the Bionic Ear Institute.



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ASSISTANT TREASURER

NO.051

Deductibility Of Gifts To The Bionic Ear Institute

The Assistant Treasurer Senator Rod Kemp, announced that from today, gifts to the value of $2 or more made to the Bionic Ear Institute will be deductible for income tax purposes.

The Bionic Ear Institute (the Institute) has been established to raise funds to undertake research into understanding the hearing system, hearing loss and to develop clinical therapies that help hearing impaired people.

Tax deductible gift status will assist the Institute to attract public support for its activities.

Legislation to give effect to the Government's decision will be introduced as soon as practicable and taxpayers should ensure that they receive a receipt for their donation.

CANBERRA

5 October 2001

Contact Officer: Kathy Gruber Australian Taxation Office (02) 6216 1493 Michael Fletcher Assistant Treasurer's Office (02) 6277 7360