With bushfires raging across South Eastern Australia there are plenty of calls for donations and many people are making donations. Just a reminder that donations to registered charities are tax deductible. This means if you earn $70,000 a year and make a $100 donation, you will reduce your tax bill by $34.50. The trick is to keep your receipt. Every year I listen to lots of people saying “I made a donation but don’t have the receipt”. No receipt, No tax deduction.
Of course, because your after tax cost is less, you can actually donate more.