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Donations tax treatment FAQ

Private support | Donations or bequests | The Foundation | Bequest Circle | AFNGA | Corporate partnerships


Fiona Hall 'Fern garden' 1998 Collection of the national gallery of Australia, purchased with the assistance of Friends of Tamsin and Deuchar Davy, in their memory, 1998
Grace Cossington Smith  Eastern Road, Turramurra c 1926  watercolour over pencil on paper  National Gallery of Australia, Canberra  Bequest of Mervyn Horton 1984
Nature of the
Is the donation/gift
tax deductable?
Can any excess
deduction be claimed
in a subsequent year?
Is the donation/gift
subject to
Capital Gains Tax?
Cash Yes (a) Yes No
Property Yes (b) Yes (c) (d)
Works of art Yes Yes (e) No
Bequest via your Will (f) No No No
  1. The amount of the deduction is limited to your assessable income after deduction of other tax-deductible expenditure except tax losses brought forward in the year in which the donation is made.
  2. Deduction depends upon when the property was acquired and is limited as in (a) above.
  3. A tax deduction for a gift of property valued by the Tax Office at more than $5,000 may be spread over five years.
  4. Whether a donation of property is subject to capital gains tax or not depends upon whether the property is real estate or an interest in real estate.  In the case of real estate several other factors including when the property was acquired are also important.  The area of capital gains tax is complicated and you should seek independent professional advice of its impact on your own position.
  5. The deduction may be spread over 5 years at the option of the donor.
  6. The beneficiary must be a deductible gift recipient.

The National Gallery of Australia acknowledges the assistance of Perpetual Trustees Australia Limited in developing this brochure.

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