Who is required to maintain a gift fund?
Organisations that are endorsed, or seeking to be endorsed, by the Tax Office as a deductible gift recipient (DGR) for the operation of a fund, authority or institution must maintain a gift fund. Examples include schools endorsed for the operation of a school building fund and local councils endorsed for the operation of a public library. An exception is where an organisation is seeking DGR endorsement for a fund, authority or institution that it operates and the organisation is already endorsed as a DGR as a whole. From 12 April 2007, organisations that are endorsed, or seeking to be endorsed, as DGRs as a whole are not required to maintain a gift fund. However, these organisations may choose to maintain a gift fund. Organisations that are listed by name as DGRs in the tax law are not required to maintain a gift fund. These organisations are set out in our fact sheet Deductible gift recipients listed by name in the income tax law (NAT 8443).
