NO.039

TAX DEDUCTIBILITY OF.gifTS TO VIETNAM WAR MEMORIAL OF VICTORIA

The Treasurer announced today that the Government will amend the

income tax law to allow tax deductibility for gifts to the value of $2 or more

to the Vietnam War Memorial of Victoria.

As a result, gifts made to the Memorial between 1 January 2005

and 31 December 2005 will be deductible for income tax purposes.

The Memorial will provide an important place for both Australians

and Australians of Vietnamese origin to commemorate their wartime experience.

The memorial will also serve as an important focal point for local Vietnam veterans,

their families and other affected members of the community.

Supporting the Memorial through granting gift deductibility status

will help it raise sufficient funds to construct the memorial and commemorate

veterans’ service during the Vietnam War.

Legislation to give effect to this announcement will be introduced

as soon as practicable. In the meantime, taxpayers should ensure that they receive

a receipt for their donation to allow them to claim a tax deduction.

MELBOURNE

29 April 2005