Men's Sheds to gain tax deductible donation status in 2020
COMMUNITY SERVICES
Donations to men’s and women’s sheds will be tax deductible from next year.
Federal Leichhardt MP Warren Entsch said the government would introduce a new law from 1 July 2020 anyone who donates $2 or more to a shed can claim an income tax deduction for that donation.
“Men’s and women’s sheds are a great Australian success story. They have evolved into a vital part of many Far North Queensland communities,” Mr Entsch said.
“Every day, men’s and women’s sheds in Far North Queensland provide support, and now it is our turn to provide more support to them.
“This will give members of our community an extra incentive to make a donation and provide support to our local men’s and women’s sheds.
“I am proud that we are able to provide this support to men’s and women’s sheds and in turn to our communities. Bringing Australians together is part of our plan for a stronger economy.”
Mr Entsch said this would also secure the financial stability of some existing sheds, allow for the expansion of others, or even assist in the creation of more across Far North Queensland.
Peter McGrory from the Mossman Men's Shed said the announcement is great thing for the community.
"It can only be a good thing to reward the individuals who generate donations to the Men's Shed by giving them a tax break."
A statement from the Autralian Men’s Shed Association welcomed the announcement.
“Men’s Sheds rely on grants as well as their fundraising activities and donations from within their communities,” the statement said.
“Until now most have been precluded from accessing significant funds through corporate or philanthropic entities as they do not have Deductible Gift Recipient (DGR) status.
“With Sheds being eligible to access DGR, this will allow them to apply for a broader range of funding opportunities than before.”
The local Men’s Sheds are in Mossman; open on Monday, Wednesday, and Thursday from 9.00am to 1.00pm, and Julatten; open on Monday, Wednesday, and Saturday from 9.00am to 12.00pm.
Join the conversation
Give a thumb up or thumb down on the subject we've covered OR
Place a comment below.
* Readers are encouraged to use their full details below to ensure comment legitimacy. Comments are the opinions of readers and do not represent the views of Newsport or its staff. Comments containing unlawful, obscene, defamatory, personal or abusive material will not be published.
