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The Cultural Gifts Program offers tax incentives to encourage people to donate cultural items to public art galleries, museums, libraries and archives in Australia. Donations can include visual and decorative arts, Indigenous arts and cultural artefacts, social history and scientific collections, and archival material (among other things).
Donors can claim the GST inclusive market value of the gift as a deduction from their taxable income. To make a claim, the donation must be valued by at least two independent valuers who are approved by the Department to value the kind of property being gifted. The donors can then claim the average of the valuations as the tax deduction. For donors, the market value of the gift and the cost of obtaining the valuation are tax deductible, deductions can be spread over five income years.
Please note donors should seek professional tax advice in relation to their donation
Further information about the program can be found here.
This section is not applicable because of your response to question: "Does your organisation have Deductible Gift Recipient (DGR) status for Item 1?" on page 1
To participate in the Cultural Gifts Program, your organisation must have DGR status for item 1. Contact the ATO to obtain DGR status Item 1.
ATO non-profit info telephone: 1300 130 248, select item 3 to speak to an ATO officer.
For web, inquiries click here
Enter the search term – 52593
Select- DGR Table / Australian Taxation Office