Giving information


Giving information

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The following information is provided to assist you in making your gift to QUT. It is a summary of important information for donors and may be helpful in making your gift.

This information is for general purposes only and we advise that you consult your Financial Advisor or Accountant when making a gift to the University.

ABN | DGR/ITEC | TAX | GIFTS & GST | GRANTS & GST

ABN

QUT's Australian Business Number (ABN) is 83 791 724 622.

DGR/ITEC

QUT is registered as a deductible gift recipient (DGR) under Subdivision 30-BA of the Income Tax Assessment Act 1997 and is endorsed by the Australian Tax Office as an income tax exempt charity (ITEC).

TAX (source: www.ato.gov.au)

Donors can claim tax deductions for gifts made to deductible gift recipients (DGRs).

The law specifies the types of gifts that can be donated. To be deductible, a gift must be of money or property that is covered by one of the gift types. These are:

$2 or more: money
property < 12 mths: property purchased during the 12 months before the gift was made
property valued at more than $5,000: a valuation by the Australian Taxation Office is required
trading stock: trading stock disposed of outside the ordinary course of business
cultural gifts: property under the Cultural Gift Program
National Estate gifts: places listed in the Register of the National Estate.

GIFTS & GST (source: www.ato.gov.au)

Under the GST law, making a gift to a non-profit body is not payment for a supply by the non-profit body. 'Gift' and 'non-profit' have specific meanings in this context and are explained at paragraphs 57 to 68 in GST Ruling GSTR 2000/11.

A payment is considered to be a gift where:

the payment is made voluntarily, and
the payer does not receive a material advantage in return for making the payment.

A further characteristic of a gift is that it essentially arises from benefaction, and the gift proceeds from the detached and disinterested generosity of the payer.

Student scholarships may incur GST depending upon the nature of the scholarship e.g. whether it includes a work component.

GRANTS & GST

GST is payable if a taxable supply of goods or services is exchanged for the grant.
If no provision of goods or services is exchanged for the grant, GST is still payable if, under an agreement between QUT and the grant provider, QUT has an obligation to do something in exchange for the grant. This is because, for GST purposes, QUT is making a supply when it enters into an obligation to do something with the grant.
QUT must have an obligation to do something for GST to be payable. It is not enough for the grant provider just to have an expectation that QUT will do something with the grant.