New “In Australia” Draft


New “in Australia” draft

The third re-draft of the “In Australia” provisions has been released by Treasury for consulation. The draft retains the subjective requirement to operate and pursue purposes in Australia, as well as the exemption for prescribed organisations. However for organisations hoping to rely on the carve out of non-tax deductible funds and Government grants to meet the test there are a few more hurdles to clear.

Consultation closes 7 April 2014.

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