ATO Rulings and Determinations
Withdrawal of gift fund ruling
28.11.2008
Taxation Ruling TR 2000/12, which explained the requirement for a deductible gift recipient (DGR) to maintain a gift fund, was withdrawn as it was no longer accurate following the legislative amendments made by the Tax Laws Amendment (2006 Measures No 7) Act 2007 that took effect from 12 April 2007.
These amendments, for example, removed the gift fund requirement for an entity that is a deductible fund, authority or institution. For an entity that operates a deductible fund, authority or institution, the requirement to maintain a separate gift fund remains.
The withdrawal notice states that guidance on the gift fund requirements for a DGR is provided in the publication GiftPack, which is a publication listed in the Schedule of documents containing precedential ATO views.
