Thursday 30 June 2016

ATO App Makes Fundraising Easy


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.

No comments: