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Taxation

Donations to the University

1. Donations to the University are generally deductable under Subdivions 30 of the Income Tax Assement Act 1997. The question of tax deductibility is however ultimately a matter to be resolved between the donor and the Australian Taxation Office.

2. The University will accept donations for purposes determined by the Vice-Chancellor.

3. Suggestions for the use of donations may be indicated by donors.

4. When making a claim for taxation purposes, the donor should describe the payment as a donation to The University of Newcastle. All receipts issued by the University in respect to donations will carry the notation "Donation to The University of Newcastle".

5. A prospective donation involving a large sum should be discussed in advance with the Vice-Chancellor and the Executive Director of Business Services to ensure that the wishes of the donor are fully considered, the current taxation legislation is understood and the procedural steps are taken with care and attention to detail.

6. For each donation an Income Designation Form should be used (refer to donations, Revenue Section of this Manual). The Manager, Revenue will arrange for personalised forms where a bulk issue is planned.

7. An account will not be opened in the University's finance system in the name of a donor staff member. The proceeds of donations will usually be under the control of the Head of School in which the funds are to be expended.

8. Consideration may be given to an account including the name of the staff member if a donation is received from an organisation or an individual external to the University.