Tag Archives: draft legislation

Bill to Abolish the ACNC

  The Coalition Government made a pre-election promise to abolish the ACNC.  To this end, in March, the first of two bills was tabled.  This first bill is designed to abolish the ACNC legislation, but will take effect only when a second bill, establishing … Continue reading

Posted in Not for Profit | Tagged , , , , | Leave a comment

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 … Continue reading

Posted in Not for Profit | Tagged , , , , , , | Leave a comment

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.

Posted in Submissions | Tagged , , | Leave a comment

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

Posted in For Information | Tagged , , | Leave a comment