Sunday, 15 May 2022
    19
    May

    COVID-19 declared a disaster

    The COVID-19 pandemic  began on 18 March 2020 and has caused widespread health and economic impacts for the Australian community. On 6 May 2020, the Federal Government declared the COVID-19 pandemic a disaster, the Australian Taxation Office reports.

    This declaration allows Australian Disaster Relief Funds that are established for the relief of people affected by the COVID-19 pandemic to receive tax-deductible donations. Donations will be tax-deductible when made within two years from 18 March 2020.

    In order to receive tax-deductible donations, Australian Disaster Relief Funds will need to:

    • apply to the ATO for DGR endorsement as a Disaster Relief Fund for the purpose of COVID-19
    • be registered as a charity with the Australian Charities and Not-for-profits Commission (ACNC).

    A separate disaster relief fund is required when a new disaster is declared. Funds established for bushfire relief purposes cannot be used for COVID-19 related relief.

    SOURCE

    COVID-19 declared a disaster (Australian Taxation Office)

    PHOTO

    geralt / Pixabay / PD