When you choose to support CBM through tax deductible donations, you’re not just contributing financially; you’re joining a mission to transform the lives of people with disabilities in the most disadvantaged communities worldwide.
Understanding how tax deductible donations work can enhance your contribution’s impact and provide vital support to CBM’s projects. It can also help you receive tax benefits under Australian law.
Why donate to CBM?
CBM is an international Christian development organisation devoted to improving the quality of life for people with disabilities living in poverty. We are registered as a Deductible Gift Recipient (DGR) charity, which means you can claim a tax deduction on gifts of $2 or more.
Your charitable donations help fund initiatives such as
Disability inclusive development
Ensuring people with disabilities have access to essential services and are included in all aspects of life.
Emergency response
Providing immediate and long-term support to people with disabilities in disaster-affected regions.
Healthcare programs
Offering medical and rehabilitative care to prevent and treat conditions leading to disability.
Making your donation tax deductible
To ensure your donation to charity is tax deductible:
Verify Deductible Gift Recipient status
- CBM is endorsed by the Australian Taxation Office (ATO) as a Deductible Gift Recipient charity, able to receive tax deductible gifts.
Keep donation receipts
- CBM will provide receipts for your donations, which are necessary for you to claim donations as a tax deduction, or you can request a single tax statement at the end of each financial year.
Understand the benefits
- A charitable donation to CBM can reduce your taxable income, potentially lowering your tax liability and significantly impacting the lives of people with disabilities.
Claim on your tax return
- To claim tax deductible donations at tax time, include your donation amounts when filing your annual tax return under the section for Gifts and donations.
The impact of your support
Every dollar you donate goes towards projects that can help change lives. For instance, your gift or donation can help:
Train community health workers
We train community workers to identify and support individuals with disabilities, ensuring they receive the care and support they need.
Provide accessible education
We help children with disabilities access education, offering them the opportunity to learn and grow in an inclusive environment.
Your contribution matters
As we approach the end of the financial year, consider the dual benefits of making a tax-deductible donation to CBM. Your charity contribution can not only reduce your taxable income, but also helps create a world where people with disabilities in the poorest communities have the support they need to thrive.
Your generosity supports CBM’s mission to improve the quality of life for people with disabilities, demonstrating the power of compassion and making a tangible difference in the lives of those in need.
Together, we can work towards an inclusive world where everyone has the opportunity to reach their full potential. Your tax-deductible donation to CBM is a crucial part of this journey.
FAQs about making charity donations to CBM
A tax deductible donation is a donation that reduces your taxable income by enabling you to claim a deduction at the end of the tax year. As with any other tax deduction, you must be able to provide documentation in order to claim gifts or donations.
According to the ATO, a tax deductible donation must be made to a Deductible Gift Recipient. It can be money or something with material value, like property. You can even donate financial assets like shares.
Charitable donations must also be made without receiving or expecting to receive anything of material value or benefit in return. This means that you’re voluntarily transferring money, property, or shares without the expectation of personal benefit.
For example, raffle tickets don’t qualify for tax deductions, even if bought for a charity fundraising drive, as you could stand to receive a material benefit if your raffle ticket won a prize.
On the other hand, a charity gift bought on behalf of someone in need (such as a wheelchair or school supplies) would qualify, as you would not materially benefit from this purchase.
You should also be aware that, while they can reduce your assessable income to zero, tax deductible donations cannot create or contribute to a tax loss.
The Australian Tax office provides full guidance on remaining compliant with relevant gift conditions. Visit the ATO website to learn more.
Only donations of $2 or more to Deductible Gift Recipient charities like CBM can be claimed on your income tax return.
Donations of less than $2, or donations to organisations that are not DGRs, don’t qualify for a donation tax deduction. Purchases of raffle tickets and goods are also ineligible.
You can be confident when making a donation to CBM that your gift is tax deductible.
If you are unsure what impact a tax deductible gift will have on your own financial circumstances or you’re planning on donating significant amounts or assets, then we recommend that you seek independent financial advice from an accountant or tax agent.
This can help you to fully understand how your charitable contributions to Deductible Gift Recipients like CBM can be included in your tax planning, ensuring you maximise your tax benefits while supporting a cause close to your heart.