You can claim a tax deduction for gifts or donations to International Humanitarian Organisation(IHO Global).
- Your gift must truly be a gift. A gift is a voluntary transfer of money or property where you receive no material benefit or advantage.
- The gift must be money or property, which includes financial assets such as shares.
- For gifts of property, there are different rules, depending on the type of property and its value.
- This potential tax benefit is based upon 2017-2018 ATO income tax rates. The above calculated benefit is exclusive of the Medicare Levy of 2%. For the 2018-2019 tax year, the Medicare Levy is proposed to rise to 2.5%. Each person’s tax circumstances are unique to them. You are advised to seek professional tax advice.