[Busmanagers] ATO Deductible Gift Certificate

[Derix, Teresa T]

We also have a Co -Op with the credit union the same as Raelene.
Naturally only directors of Co-op can be signatories.  However we do
have to have them audited separately but the school auditors do also
check with a fine tooth comb.

 

Teresa Derix

Don Valley Primary School

________________________________

From: busmanagers-bounces at edulists.com.au
[mailto:busmanagers-bounces at edulists.com.au] On Behalf Of Clark, Raelene
V
Sent: Thursday, 17 November 2005 2:31 PM
To: Business Managers' Mailing List
Subject: RE: [Busmanagers] ATO Deductible Gift Certificate

 

Hi Sheree

 

When we set up our Co-Operative a couple of years ago, we opened
separate bank accounts for both the Co-Op and the Tax Deductible
Building Fund Account.  Both are with the VTCU.  Both are audited by a
separate auditor at 30th June and are not even looked at by the normal
school auditors.  When donations are received they are banked directly
into the Tax Deductible account and we issue a typed official receipt
rather than the one produced by AR.

 

Hope this helps.

 

Raelene 

Raelene Clark

Business Manager

Bayswater Primary School

9721 3755

clark.raelene.v at edumail.vic.gov.au

 

 

________________________________

From: busmanagers-bounces at edulists.com.au
[mailto:busmanagers-bounces at edulists.com.au] On Behalf Of Jones, Sheree
C
Sent: Thursday, 17 November 2005 1:54 PM
To: busmanagers at edulists.com.au
Subject: [Busmanagers] ATO Deductible Gift Certificate

Hi All

 

We are applying for a D.G.C. from the ATO and they say we have to open a
separate bank account for the funds we raise to be deposited into.
However, DE&T says no we cannot open a separate bank account.  How do
other schools get around this?

 

 Sheree Jones

Business Manager

Upper Yarra Secondary College

A ***** School  

*Phone:        03 59671877

*Fax:            03 59672109

 

Email:  jones.sheree.c at edumail.vic.gov.au

 

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