Gifts, donations, interest, dividends, and the cost of managing your tax affairs. To show your gifts or donations, at Prepare return select 'Add/Edit' at the Deductions banner. At the Gifts or donations banner: For each gift or donation expense not shown or pre-filled in your tax return, select Add and: enter Your description, Donations to help the victims of a disaster in Australia or overseas are tax deductible if made to a DGR. Gifts and fundraising for non-DGRs You can start your own DGR, collect for an established DGR or collect funds without supporters getting a tax deduction., Example: a deductible gift cannot add to or create a tax loss. Dominic donated a car valued by the ATO at $10,000 to a DGR in June 2016. His assessable income on his tax return for 2015–16 is $20,000 and he has no other deductions. The tax deduction he can claim for his gift is limited to $1,800., Tax Time Gifts and donations You must have a record of the gift or donation, such as a receipt. If you receive a material benefit in return for your gift or donation to a DGR – for example, something that has a monetary value – it is considered a contribution and extra conditions apply., if the property had been manufactured or created, the amount allowable as a tax deduction if it had been sold by the donor. Your tax deduction will be reduced, by a reasonable amount, if you donate property to a DGR without the DGR actually receiving: immediate custody and control; unconditional right to retain custody and control in perpetuity, For more information about what a gift is and examples of gifts, see Taxation Ruling TR 2005/13 Income tax: tax deductible gifts – what is a gift. You can also claim a deduction for: a donation to an approved DGR organisation of shares listed on an approved stock exchange valued at $5,000 or less; a donation to a private ancillary fund.