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So you have gathered a number of donations -
BUT are they suitable for the spinning wheel?
They have cost you nothing, but what are they worth?
The laws that apply in Victoria say the retail value of a raffle prize must be between 17-50% of your take, so that is your first consideration.
A donor gives you a $500 holiday voucher; I consider it an insult if you were to give it away on a $1 spin for $100 return, when the law says you can sell tickets to the value of between $1450 and $2900.
It could be first prize in a raffle; alternatively, it could go on the spinning wheel as a much advertised SPECIAL SPIN with tickets selling at $25 or $30 each on a 100 pin wheel throughout the day and the spin at close of the fete.
Either way, you make $1450-$2900 thanks to that donor - and why not let them know what you bought as a result of their generosity?
Someone else gave you a soft toy worth perhaps $5 - does it fall within the requirements of the law? Not for a raffle or spinning wheel. A better idea would be to add it to the Christmas stocking that will be raffled later in the year.
