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NFP Reform Agenda continues at a Rapid Pace – Have Your Say
- By Joe Shannon
- Published 6/01/2012
- Not for Profit Interests
- Unrated
Following our recent submissions on the Government’s consultation paper regarding a statutory definition of charity (click here to read), the Federal Government’s reform agenda continues at a rapid pace with the release on 9 December 2011 of 2 more major elements of the reform being:
• Exposure draft legislation to establish the Australian Charities and Not-for-profits Commission (ACNC) as announced in the 2011 budget; and
• A consultation paper on current governance arrangements for the not for profit sector.
• Exposure draft legislation to establish the Australian Charities and Not-for-profits Commission (ACNC) as announced in the 2011 budget; and
• A consultation paper on current governance arrangements for the not for profit sector.
Defining Charity
- By Moore Stephens Australia
- Published 16/12/2011
- Not for Profit Interests
- Unrated
Moore Stephens have written a submission responding to the Treasury
consultation paper on “A Definition of Charity” The submission was
lodged with Treasury this month
GSTR 2001/D4 - The ATO updates its views on GST and grants
- By Moore Stephens Melbourne
- Published 8/11/2011
- Not for Profit Interests , Public perspective , Education Interests
- Unrated
On 2 November 2011 the Australian Taxation Office released Draft GST Ruling GSTR 2011/D4: Grants of Financial Assistance (the “Draft Ruling”). The draft ruling represents a substantial rewrite of an earlier ruling on the same topic, GSTR 2000/11 (the “Old Ruling”), and follows numerous court decisions which have both challenged and developed the ATO’s interpretation of the GST law.
Both providers and recipients of grants should review their GST treatment in light of the Draft Ruling, as some aspects of the ATO’s interpretation of the law have changed, particularly in the areas of peripheral supplies and tripartite arrangements.
Both providers and recipients of grants should review their GST treatment in light of the Draft Ruling, as some aspects of the ATO’s interpretation of the law have changed, particularly in the areas of peripheral supplies and tripartite arrangements.
Giving Charity Meaning - First steps towards a statutory definition
- By Moore Stephens Melbourne
- Published 4/11/2011
- Not for Profit Interests , Education Interests
- Unrated
A further piece of the Government’s reform agenda for the not-for-profit sector began to take shape on Friday 28 October 2011, with the release of a consultation paper on introducing a statutory definition of charity.
The consultation paper is a welcome response to numerous calls for clarity by organisations including the Charities Definition Inquiry, Productivity Commission and the Senate Economic Legislation Committee. It appears to foreshadow a statutory definition which preserves key benefits of the current common law definition, such as flexibility around the meaning of charitable purpose. The proposals seem to be a genuine effort to codify existing principles, rather than an attempt to narrow the definition of charitable entity.
The consultation paper is a welcome response to numerous calls for clarity by organisations including the Charities Definition Inquiry, Productivity Commission and the Senate Economic Legislation Committee. It appears to foreshadow a statutory definition which preserves key benefits of the current common law definition, such as flexibility around the meaning of charitable purpose. The proposals seem to be a genuine effort to codify existing principles, rather than an attempt to narrow the definition of charitable entity.
TR2011/4 - the ATO's view on charities following recent court decisions
- By Moore Stephens Melbourne
- Published 19/10/2011
- Not for Profit Interests
- Unrated
The Australian Taxation Office has released Taxation Ruling TR 2011/4 on 12 October, which sets out the Commissioner’s view on:
• features that distinguish a charitable institution from a charitable fund
• circumstances under which an institution or fund will be considered charitable
• determining whether the purpose of an institution or fund is charitable; and
• recent court decisions in numerous cases such as Word Investments, Aid/Watch, Central Bayside and Victorian Womens Lawyers
• features that distinguish a charitable institution from a charitable fund
• circumstances under which an institution or fund will be considered charitable
• determining whether the purpose of an institution or fund is charitable; and
• recent court decisions in numerous cases such as Word Investments, Aid/Watch, Central Bayside and Victorian Womens Lawyers
Exposure Draft in Australia special conditions
- By Stephen O’Flynn
- Published 6/07/2011
- Not for Profit Interests
- Unrated
Exposure Draft in Australia special conditions
The Assistant Treasurer has recently released an exposure draft updating the current ‘in Australia’ special conditions for tax concession entities.
The Assistant Treasurer has recently released an exposure draft updating the current ‘in Australia’ special conditions for tax concession entities.
TR2005/22DA puts NFP subsidiary entities on the Hit List
- By Stephen O’Flynn
- Published 28/06/2011
- Not for Profit Interests
- Unrated
TR2005/22DA puts NFP subsidiary entities on the Hit List
Not-for-Profit changes announced in 2011/12 Federal Budget
- By Stephen O’Flynn
- Published 23/06/2011
- Not for Profit Interests
- Unrated
The 2011/12 Federal Budget heralded wide-sweeping changes to the Not for Profit (NFP) sector. In particular, the tax changes may be the most significant to the NFP sector since the introduction of GST.
NFP tax concessions reform - an opportunity to provide your views
- By Allan Mortel
- Published 31/05/2011
- Not for Profit Interests , Moore Tax News
- Unrated
The Assistant Treasurer, the Hon Bill Shorten MP, has released a consultation paper with further details of the Federal Government’s 2011-12 Budget announcement to reform the use of not-for-profit (NFP) tax concessions for unrelated commercial activities from 1 July 2011.
Not for Profit Sector- Special Budget Update
- By Katrina Daly
- Published 11/05/2011
- Not for Profit Interests
- Unrated
The times they are a changing……
Last night’s budget heralded some of the most significant changes to the Not for Profit Sector.
This Not for Profit Sector – Special Budget Update outlines the key changes announced by the Gilliard government as part of the 2011-12 Federal Budget.
Last night’s budget heralded some of the most significant changes to the Not for Profit Sector.
This Not for Profit Sector – Special Budget Update outlines the key changes announced by the Gilliard government as part of the 2011-12 Federal Budget.