Lismore Flood Appeal receives tax deductible status
THERE are hopes more corporate donations will now flow to the Lismore Flood Appeal with the approval of tax deductible status.
The Australian Taxation Office (ATO) has approved the status for the Lismore Flood Appeal, ensuring current donors can claim their donation as a tax deduction.
In the midst of the natural disaster Lismore City Council established a GoFundMe account and a bank account to attract donations for those worst affected by flooding. The council did not have tax deductible status but decided to run the Lismore Flood Appeal anyway to help those in need.
The council's subsequent application to the ATO for tax deductible status has now been approved and backdated to March 28, enabling all donors to be issued with a tax deductible gift receipt should they wish.
"This is incredibly exciting news and we're so grateful to the ATO,” Lismore City Councillor and Lismore Flood Appeal co-chair Eddie Lloyd said.
"Having an appeal that did not have tax deductible status was standing in the way of some corporate bodies being able to donate, and now that barrier no longer exists.
"This means we can approach big corporations and seek more support for the Lismore Flood Appeal. Our goal is $500,000 and we have now raised just over $200,000. Gaining tax deductible status will undoubtedly help us get closer to our target.”
Ms Lloyd said the tax deductible status was also a win for all the smaller organisations and people who gave without a thought to whether they could claim the donation at tax time.
"Those generous and compassionate people and organisations who donated without a thought for tax deductibility can now contact Council and we will issue a receipt,” Ms Lloyd said.
"We are thrilled to have been able to achieve this thanks to the hard work of our finance team and the understanding and quick work of the ATO. This is great news for Lismore.”
To receive a tax deductible gift receipt for your donation to the Lismore Flood Appeal, please phone Lismore City Council on 1300 87 83 87.
There are a number of ways people and organisations can contribute to the Lismore Flood Appeal.
WEBSITE - donate at www.gofundme.com/lismorefloodappeal
BANK DEPOSIT - deposit directly into the Lismore Flood Appeal account:
Lismore City Council Flood Appeal Account
Account Number: 10864633
IN PERSON - over the counter at the Lismore City Council Chambers, 43 Oliver Avenue, Goonellabah.