PRESS RELEASE: TAX FOX AND SHOPNATE PARTNERSHIP TO HELP DONORS KEEP TRACK OF MISSED TAX DEDUCTIONS TO ELIGIBLE CHARITIES
Ever donated to charity & not claimed a tax deduction?
According to ATO tax return data for FY 2016-17 if you have not claimed tax deductions for eligible donations you have made to charities you are not alone. $9.7B in donation deductions were missed. 70% of individuals are not claiming deductions for donations they make.
The main reason people are missing out on deductions is difficulty in keeping track of smaller donations to charities. It is important to keep records of what you have donated to ensure you claim the deductions and don’t miss out. Having records means you also don’t have to worry if the ATO audits you.
As one Shopnate user Gloria put it “It’s too hard to keep track of small donations I make here and there. How do I collect and keep track of receipts? In the end I just don’t bother”.
Shopnate EasyFundraiser allows users to raise free donations for their favourite charity each time they shop online. Shopnate has partnered with TaxFox to make it even easier for their members to keep track of eligible donations to charities. With TaxFox App you get to ‘Snap & Store’ your tax deductible donations as soon as you make them. This makes it a breeze to include them as deductions in your next tax return.
The TaxFox Shopnate partnership gives Shopnate customers the opportunity to get the TaxFox App Smart Gold plan for $0.99 for the first year instead of $83.99. This is a limited time offer available until 30 Aug 2020 and requires you to use the code provided by Shopnate when you register for free.
Gloria says, “For 99 cents I will certainly give TaxFox App a try as I will be able to claim much more than 99 cents back while supporting Cancer Council through Shopnate.”
With the partnership you can now donate to your favourite charity when shopping online through Shopnate as well as make other donations and TaxFox App will be able to easily keep track of all your donations.
To find out more about raising free funds for your favourite cause when shopping online and to get your code for TaxFox register on Shopnate here by selecting a cause to support: https://www.shopnate.com.au/causes
To find more about TaxFox and how to get a bigger tax refund visit: www.taxfox.com.au
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TaxFox Australia Pty Ltd
[email protected]
0423 037 377
Unit 12 9-11 Wigram Street
Harris Park NSW 2150
Australia
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Key Stats
ATO records show that for the Tax Financial year (2017-2018)
14.3M Austrlians lodged a tax return
$11.2B was donated by individuals and only ($3.75B) was claimed as a tax deduction
$7.45B in tax deductions for donations were not claimed!
67% of individuals are not claiming deductions for donations they made
Over $36B in tax deductions were claimed by Australian Tax Payers
Sources:
ATO Taxation Statistics 2016-2017 Individuals
Philanthropy Australia: Giving in Australia: the fast facts
Giving Australia 2016
https://acfid.asn.au/sites/site.acfid/files/resource_document/koda-capital_snapshot-of-australian-giving-2018.pdf
