Category Archives: Draft Legislation

Fringe benefits provided to religious practitioners

The ATO has issued a draft tax ruling TR 2018/D2 expressing the Commissioner’s preliminary view of exempt fringe benefits provided to religious practitioners.  It replaces TR 92/17 immediately, but may be revised when the ruling is finalised. The law it … Continue reading

Posted in Accounting Information, Draft Legislation, Income Tax, Not for Profit | Leave a comment

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

Posted in Draft Legislation | Tagged | Leave a comment

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

Posted in Draft Legislation | Tagged , , , | Leave a comment

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.

Posted in Draft Legislation | Tagged , , , | Leave a comment