Category Archives: For Discussion

Statutory Definition of

A bill defining “charity” passed through the Australian Senate last night. Up until now, “charity” has been defined by 400 years of court decisions so this is a significant development for the not-for-profit sector.

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Delay on Unrelated Business Income Tax

The Federal Government is to defer the introduction of the proposed rules to tax unrelated business activities of charities, initially announced in the May 2011 Budget. The proposed rules, which were to come into operation from 1 July 2012 are … Continue reading

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Proposed new rules for SMSF asset transfers

After some delay, new draft laws relating to the buying and selling of assets between a Self Managed Super Fund (SMSF) and a related party have been recently released. Under the new rules every acquisition of business real property by … Continue reading

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Australian Charities and Not-for-profits Commission Charities now open for business

The Australian Charities and Not-for-profits Commission Charities is now open for business.  Check that your charity registration has been transferred from the ATO on the ACNC Register.

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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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Exposure Draft – “In Australia” Special Conditions for Tax Concession Entities

This blog has been created in response to the recent Exposure Draft – “In Australia” Special conditions for Tax Concession Entities. It is intended to: keep tax concession entities informed act as a central point of reference for communication assist various interested … Continue reading

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