The characteristics of a scholarship fund that enable it to be endorsed as a deductible gift recipient.

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AISV Compliance Framework

Scholarship funds

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Do you need to comply?

Yes - if you operate a scholarship fund that qualifies as a deductible gift recipient.

Conditions of compliance

The scholarship fund DGR (deductible gift recipient) category covers funds with the following characteristics:

• the fund is a public fund
• the fund is established for charitable purposes, and
• the fund is established and maintained solely for providing money for eligible scholarships, bursaries or prizes.

These terms are defined on the Australian Taxation Office's website. Please click here to access the website.

If you have to comply, what do you have to do?

Organisations that want to be endorsed as DGRs must apply to the Tax Office for endorsement.

You will need to complete the scholarship fund schedule.

You will need to complete the form Application for endorsement as a deductible gift recipient (NAT 2948). You can obtain the application form by phoning the ATO on 1300 130 248

The application form and schedule are to be lodged together. Your completed application form and schedule should be sent to:

Australian Taxation Office
PO Box 3373
Albury NSW 2640

What are the consequences if you don't comply?

You may be in breach of Australian taxation laws.

Who will help you?

AISV contact:

Peter Roberts
Assistant Director, Management Services
Ph. 03 9825 7211
peter.roberts@ais.vic.edu.au

Other links:

Australian Taxation Office: Scholarship funds

Australian Taxation Office: Scholarship fund • schedule for deductible gift recipient applicants (NAT 15611)

Australian Taxation Office: non-profit information line ph 1300 130 248

Click here to download a summary (in pdf) prepared for AISV by Freehills Solicitors (password required)

You should also seek your own professional taxation advice

Submitted 8/9/2006, edited 7/15/2008.

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