Senator the Hon. Mathias Cormann
Minister for Finance and the Public Service
Leader of the Government in the Senate
Senator for Western Australia
The Hon. Josh Frydenberg MP
Date: Sunday, 24 March 2019
The Government will unlock new fundraising potential for Men’s and Women’s Sheds across the country.
Every day, hundreds of Men’s and Women’s sheds provide support to countless Australians in every State and Territory. Now, it’s our turn to provide more support to them.
Our Government will introduce a new law that will make donations to Men’s and Women’s Sheds tax deductable.
What this means is that from 1 July 2020 anyone who donates $2 or more to a Shed can claim an income tax deduction for that donation.
The Sheds will join charities including the Red Cross, World Vision and The Smith Family which already have this status, known as a Deductible Gift Recipient.
This will give every day Australians and philanthropists alike an extra incentive to make a donation and provide support to their local Men’s and Women’s Sheds.
Treasurer Josh Frydenberg said this would help to secure the financial stability of some existing Sheds, allow for the expansion of others or even assist in the creation of more Men’s and Women’s Sheds.
“Last year I had the pleasure of officially opening the North Balwyn Community Men’s Shed in Victoria and had the chance to hear first-hand from many of the locals about what the Men’s Shed meant to them,” he said. “For some, it was a place to build and create, for others it was a reason to get up every day.
“This is just one example of the invaluable support that around 1,000 Sheds provide, from the Rockhampton Men’s Shed in Queensland, to the Exmouth Men’s Shed in Western Australia and the Kings Meadows Men’s Shed in Tasmania.”
Finance Minister Mathias Cormann said the Sheds were the centre of so many Australian communities, providing a welcoming place for comradery.
“Men’s and Women’s Sheds are a success story that has seen a staple of the Australian backyard evolve into a vital part of the Australian community,” he said.
“We are proud to be able to provide this support to Men’s and Women’s Sheds and in turn to our communities. Bringing Australians together is part of our plan for a stronger economy.”
For the Treasurer - Danielle McKay – 02 6277 7340
For Minister Cormann - Karen Wu - 0428 350 139