Private ruling: Deductions
Date of advice: 22 December 2022
Published: 20 February 2023
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Are you entitled to a deduction for a donation to a deductible gift recipient (DGR) using funds from a bequest under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997)? | A1: Yes. Your donation will be deductible under section 8-1 Income Tax Assessment Act 1997 (ITAA 1997) provided it is to a deductible gift recipient (DGR). Further information about donating to a deductible gift recipient can be found by searching 'QC 31906' on ato.gov.au.

Relevant facts and circumstances: You received a bequest in your patient's will. The bequest is to be used for medical research. The bequest does not come with any binding conditions or requirements about how it should be spent. You are currently investigating the best way to utilise the money. You are interested in keeping the money in your personal name and making donations of the same amount. You are working with academic colleagues to establish a program of research in the benefactor's name. You hope to obtain research grants to enable you to undertake this work. The money saved through tax deductions will benefit the research program.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 8-1