Deductible Gift - The museum has been endorsed by the Australian Tax Office as a Deductible Gift Recipient (DGR), which allows certain donations to the museum to be claimed as tax deductions by the donor under certain conditions. Gifts of money totalling over $2.00 in any one financial year, property owned by the donor for less than 12 months, or property forming part of the trading stock of a business may be tax deductible to the Donor. It is the Donor’s responsibility to comply with Australian Tax Office guidelines for the valuation of any property offered.

 

Cultural Gift - The museum is endorsed by the Australian Tax Office as a public museum. This allows the value of property, which has been owned by the donor for more than 12 months, to be claimed as a tax deduction by the Donor. Such property must be valued under guidelines issued by the Tax Office and the Australian Government Department responsible for the Arts at that time, which requires the Donor to obtain valuations from Certified Valuers. The museum may assist the donor in obtaining these valuations, but any costs are normally the donor’s responsibility. Offers of any such donations should be referred to the CEO in the first instance.

 

Philanthropic Gift - A Philanthropic Gift is similar to a Cultural Gift, but processed through the Australian Valuation Office rather than the department responsible for the Arts. Any such proposed donations must also be referred to the CEO.

 

Free Gift - Many small items may be passed to the museum without any intention of the Donor seeking a financial or tax benefit. Museum documentation, however, must be in the same format as for processing Deductible Gifts (described above).

 

To comply with Australian Tax Office guidelines for accepting these gifts, the museum has setup the Museum of Fire Gift Fund to which all donations of money or property must be credited. This fund is required to maintain a Register of Donations and a separate bank account for monetary donations, and to issue separate receipts for all such donations. Thus, any item (money or property, whether for the collection of for other use within the museum) which is donated to the museum must in the first instance be recorded in the Gift Fund Register. ‘Donations’ made to obtain a benefit or service from the museum (e.g. Sponsorship for an exhibit) may not be allowed as gifts, but may be otherwise tax deductible for the Donor. The Donor should be issued with a receipt which must show the Gift Fund’s name, a description of the donated items, and the fact that the receipt is for a gift. It is the donor’s responsibly to obtain the value of such property if required. After acceptance into the Gift Fund the item is then passed onto the collection or otherwise dispersed, and an appropriate entry is to be made in the Register to reflect the action taken.