To assist in achieving its aims, the Foundation is able to accept donations in the form of money, as proceeds in full or in part from the sale of art works, as gifts in kind, and as bequests and in other ways.

Tax deductibility of donations to Aboriginal Benefits Foundation

The ABF is a Deductible Gift Recipient (DGR) organisation. All monetary gifts over $2 are tax deductible.

Gifts of property

The following types of gifts are tax deductible to donors:

• property valued by the Tax Office at more than $5,000
• property purchased during the 12 months before the gift was made
• shares valued at $5,000 or less, and acquired at least 12 months before the gift was made
• trading stock - trading stock disposed of outside the ordinary course of business or by dealers

Process for getting a deduction

As a donor, you must seek a valuation of the property you intend to donate from the Australian Valuation Office (AVO), which is a part of the Tax Office.

You may obtain the valuation either before or after you make the gift.

You must lodge with the AVO:

1. a deposit of $174 (The deposit amount will be credited against the total charge for the valuation. The AVO will advise the donor, in writing, of the estimated charge for the valuation.)
2. a Request for Valuation form;
3. the completed Certificate of Donation, and where the gift is one of art;
4. a Certificate of Authenticity. (If you don’t have one, the AVO will get one but there will be an expense for the valuation.).

You can obtain a Guide, the forms Request for valuation, Certificate of donation and Certificate of authenticity from the AVO.

What amount is allowed as a gift deduction?

If the gift is property valued by the Tax Office at more than $5000 and you did not purchase the property during the 12 months before making the gift, you can deduct the value of the property, as determined by the AVO.

Valuation expenses incurred by a donor are tax deductible if the valuation is made solely to determine the market value of a deductible gift so a deduction can be claimed.

In the case of donated items of significant value the Foundation will, at its discretion, consider assisting the donor with the necessary forms and lodgement fee.

Gifts under $5000

 If a prospective donor wishes to liquidate assets eg valuables or paintings under $5000 in value and donate the proceeds to the Foundation, please contact the ABF for advice.