EV Grow – Our Stories | Q&A | Giving to EV Grow
EV Grow Tax Deductibility
As part of EV Grow, gifts given toward our loan repayments and facility development have traditionally been tax deductible. For this next three-year period, due to limits on how much of our building and loan costs qualify for deductible-gift status, we’re only able to offer 50% tax deductibility on pledges and one-off gifts made through this appeal. This means half of what you give will be receipted as tax deductible, and the other half as a property (non-deductible) gift. We wanted to be upfront about this now, so you can plan your giving with a clear picture. If you have questions, our finance team is happy to help, and we’d encourage you to check with your accountant or tax agent about what this means for your own tax return.
Tax Receipts are issues in July each year.
Q: Where does the ‘One-off Gift” go?
The one-off gifts will go to enable EV to develop our facilities as we grow. We are making plans to create additional EV Kids classrooms and spaces for EV Youth, and resolving the car park needs.
Q: Why is only 50% of my pledge or gift tax deductible this time?
Our buildings aren’t used 100% for teaching and hence we can’t offset 100% of the funds raised each year, at some point we need to balance this out, and we have chosen to sort this over this next campaign, which will then allow us to go back to 100% deductibility potentially for the next campaign in 2029
Does this apply to both the three-year pledge and the one-off gift?
Yes — both the three-year pledge and any one-off gift given through EV Grow will be treated the same way: 50% deductible, 50% non-deductible.
What was different back in 2023?
In 2023, pledges were fully tax deductible(and will potentially be again in 2029). The change reflects the limits on our available deductible-gift capacity for this new three-year period, not a change in how we value your giving.
How will I know what portion of my giving is deductible?
Your giving tax receipt will only show the tax deductible portion of the gift, which is 50% of you full contribution we receive from you.
Will this change again in future?
It’s possible. Deductible-gift limits depend on our building usage, loan costs, maintenance costs and development costs at any given time, so future appeals may look different. We’ll always be upfront if that’s the case.
I have questions about what this means for my own tax return — who do I ask?
For anything about your personal tax situation, it’s best to check with your accountant or a registered tax agent, since everyone’s circumstances are different.
If you have any further questions please contact [email protected].