| new phi∙lan∙thro∙py (nju fĭ-lān'thrə-pē) |
A philosophy of charitable giving that increases good works while improving the donor’s financial position.
See also: hybrid philanthropy, inverse planned giving |
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LONG TERM, NO/LOW INTEREST
VENDOR FINANCED GIFTS TO
CHARITY OUTLINED BY THE ATO |
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Leaf is pleased to announce that after one year of discussions and help from the ATO to identify the guidelines necessary for Australians to donate newly-bought goods using credit to Australian DGR charities, the ATO Non Profit Section has released a bulletin outlining exactly how it must be done.
This very important bulletin notes that Australian taxpayers should take care when considering donating in this method to ensure (among other things) that:
- Full title transfers to the donor before making the donation
- There are no restrictions placed on the charity regarding use of the
items donated
- The only benefit the donor receives is the benefit of a tax deduction
Leaf & DWB would like to thank the ATO for their help in assisting Australian taxpayers to make affordable donations to Australian charities using this method.
To download the full bulletin, click HERE.
As far as we are aware, Donors Without Borders is the only Australian non-profit initiativethat focuses on donations of gifts-in-kind (goods) to registered Deductible Gift Recipients (Australian Tax Office registered charities) and fully complies with the gift deduction provisions set out in Division 30 of the Income Tax Assessment Act 1997 (ITAA 1997) as interpreted and applied by the ATO in Public Ruling TR2005/13 and as outlined in ATO Non-Profit News Service No. 0296 - Donations of property & vendor finance. Please consult with your finance professional and/or obtain independent legal advice regarding the tax deductibility of any donation to charity.
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"Thank you" from the charities who received millions of dollars of life-saving goods and money in donations from members of Donors Without Borders in 2009/10:
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Pre-registered charities with Donors Without Borders are extremely grateful for the generous donations of DWB members. If you would like to find out how to make affordable donations to charity, please contact Leaf Capital Pty Ltd, or your finance professional today!
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DOING WELL BY DOING GOOD
Leaf Capital Pty Ltd (Leaf), an Australian marketing company, strives to raise the level of philanthropy in Australia through THE DONORS WITHOUT BORDERS PHILANTHROPIC INITIATIVE – the marriage of philanthropy and commerce for the betterment of both:
- Helping Australians afford large donations to charity through near zero interest vendor financed gifts-in-kind, which also allows them to use the time-value of their deduction to pay for their purchase plus more
- Enabling responsible philanthropy with 100% of donations reaching the cause, because the donations are of life-saving goods rather than money
- Helping Australian charities receive these donations without charging any fundraising fees
- Bringing Australian vendors a new market of sales for donation purposes, rather than for personal consumption
- Giving finance professionals, accountants, & other interested parties (Accredited Representatives) a new financial strategy where they can earn revenue
Leaf and its Accredited Representatives are ready to help Australians make a positive difference in the developing world. If you would like more information on becoming an Accredited Representative and/or a Donor, please send an e-mail to: info@leafcapital.com.au
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