10 Jun 2013

New Tax Ruling for School Building Funds

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On 13 February 2013 the Australian Taxation Office released a new tax ruling for school (or college) building funds – Taxation Ruling TR 2013/2.

This tax ruling aims to clarify the definition of a school or college to help determine whether a building is used as a school or college and to identify if a fund has been established and is being maintained solely for providing money for the acquisition, construction or maintenance of a building used as a school or college.

If you want to claim a tax deduction for gifts to a school building fund or establish a tax deductible school building fund, read the full article by MSI Global Alliance firm Makinson & d’Apice here.  For further information, contact us.

About the Author

Peter Nevin is a Partner in our Commercial Litigation practice group. He specialises in commercial and general litigation, and provides detailed advice on industrial relations issues to both employers and employees. He also provides advice and representation in estate disputes on behalf of executors, beneficiaries and third party claimants.

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