Monthly Archives: July 2011

Implications for income tax exempt entities under the proposed legislation

The draft legislation introduces new conditions for not for profits to retain income tax exemptions. Have you thought about how this will affect your organisation? Please leave a comment.  Your thoughts will help others to prepare submissions.

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Implications for overseas missions

The legislation as drafted has significant implications for overseas missions based in Australia and as a result many are planning to make submissions in response. Have you thought about how this will affect your organisation?  What arguments do you have to support the retention of the current income … Continue reading

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The abridged version

Income Tax Exemption for Religious and Charitable Institutions Current Legislation Broadly speaking, the current income tax legislation prescribes that religious and charitable institutions are income tax exempt if they: have a physical presence in Australia and, to that extent, incur … Continue reading

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Draft Legislation

An exposure draft of legislation restating the ‘in Australia’ special conditions for tax concession entities has been released by the Assistant Treasurer for public consultation. The legislation is designed to ensure that: income tax exempt entities generally must be operated principally … Continue reading

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