Deduction denial for research donations: deduction disallowed unless recipient furnishes prescribed statement and certificate to donor. Amendment conditions the availability of deduction for sums paid to research associations, universities, colleges, other specified institutions or ... Summary
Deduction denial for research donations: deduction disallowed unless recipient furnishes prescribed statement and certificate to donor.
Amendment conditions the availability of deduction for sums paid to research associations, universities, colleges, other specified institutions or eligible companies on the recipient preparing a prescribed statement and furnishing to the donor a certificate specifying the donation amount; the deduction "shall not be allowed" unless those documentation requirements are met, with retrospective effect from the specified assessment commencement date.
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