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Charity Donations A Great Way To Reduce The Tax Bill
Most people don’t realise this but donating to a charity is a fairly quick and easy way to reduce one’s tax bill.
In Australia, tax payers have the ability to lower their tax burden by giving a charitable donation of $2 or more to an approved charity. There is no defined upper limit on the size of the donation and resulting tax reduction, but a charitable donation must not be used to create a tax loss.
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