Re: $100k on last 380

Kwyjibo wrote:
> "Daryl Walford" <dwalford@[EMAIL PROTECTED]
> wrote in message 
> news:avidnVy6ssVvF43VnZ2dnUVZ_uWdnZ2d@[EMAIL PROTECTED]
>> Its obvious to anyone (even the dumb ****s who work for the Tax Office)

>> thats its a donation to a charity so it should still be deductible 
>> provided the transaction was setup correctly.
> 
> And if you had the slightest clue you would know that in this case it is

> clearly not deductable, as the vehicles list value is both greater than
$150 
> and greater than 20% of what he paid for it. That rules it out as a 
> deductable item.
> Try reading the ATO rulings on 'deductable gift recipients' then get
back to 
> me.
You are right that getting something in return for a 
donation stops it being tax deductible. But it can be worked 
around as below.
> 
>>>> The item he bid on is irrelevant.
>>> But stupid, none the less.
>>>
>> That would depend on how the transaction was arranged.
> 
> How the transaction was arranged is irrelevant.
> 
Not really - if he is invoiced by MMAL at normal price for 
the car, and then given a receipt from a charity for the 
remainder, then it will be perfectly legitimate as a 
charitable donation. MMAL could then donate the amount they 
receive to charity, and claim that amount as a tax deduction 
also.