06 Nov 12 Declaration of disaster for purposes of tax deductibility - Hurricane Sandy
On 5 November 2012 the Assistant Treasurer, David Bradbury, declared the hurricane that hit the United States in late October 2012 a disaster for tax purposes. This declaration allows Australian taxpayers to claim income tax deductions for donations made to the relief effort: Assistant Treasurer’s media release No 136 (5 November 2012).
Funds still need to apply to the ATO for formal endorsement, and the ATO has established a fast track process for this purpose.
Donations to funds are tax deductible for a period of two years from 29 October 2012. Taxpayers should ensure that they retain receipts for their donations.
Donations for the devastation caused by Hurricane Sandy in the Caribbean and Haiti can be made to organisations currently registered on the Overseas Aid Gift Deduction Scheme.