Smartphone technology is impacting many
sectors, and there is an app or ten for just about everything you can think of.
Relevant to the non-profit sector, the Australian Tax Office is making the most
of widespread app use by developing one of their own. The Australian Tax Office App, contains many
useful tools, including a function called myDeductions.
What can it do?
MyDeductions can be used by taxpayers to
track, throughout the year, the deductible expenses they have incurred and
donations they have made. This eliminates the possibility of receipts being
lost, or having to be reissued, and will help many users file more complete
returns. People or organisations who regularly contribute to the fundraising
efforts by non-profit organisations will be pleased to know it is now easier
than ever before to ensure their contributions are acknowledged and met with an
appropriate deduction at tax time.
How does it work?
There are several simple steps that need to
be taken, and then anyone can make the most of this tool. The free app should
be downloaded from the app store on the appropriate device. After a donation is
made, the user can enter the information into the highly personalised and
secure app, including the cause, date and amount donated. They can also take a
photo of the receipt, and all of this information is then safely stored, ready
to be retrieved when needed.
Who can use it?
It may be beneficial for non-profits to
share information about the ATO app with their benefactors, as it could
encourage some supporters to give more, or more regularly. Many will be excited
to find out they can input any number of deductions into the myDeductions tool,
including vehicle use, equipment purchases and other work related expenses. As
a lot of individuals forgo claiming everything they are entitled to because of
the extra legwork involved in storing and sorting receipts for a whole
financial year, some will be grateful to learn there is a new, simple,
alternative. And you never know, they may even opt to show their gratitude by
making a bigger contribution to your fundraiser.
