You may consider your organisation is a charity because you focus on charitable works. However, do you provide your members with social benefits or insist they meet certain ethical standards? If so, you need to consider how these decisions may affect your ability to access charity concessions, including land tax and stamp duty concessions.
Fuel tax credit rates have increased, with the new rates applying for fuel acquired from 4 February 2019.
Are you aware of the reforms that relate to Deductible Gift Recipients (DGRs) that are public funds? Here’s a quick glance at the proposed changes. You may also be interested in our accompanying article Heads up: DGR registration changes proposed, which discusses proposals that require certain DGRs to register with the Australian Charities and Not-for-Profits […]
Deductible Gift Recipients (DGRs) that are not currently registered with the ACNC can expect change. Does your organisation need to be proactive? We outline some of the proposed reforms, their timelines and points of action you may need to consider. We take a brief glance at proposed reforms to DGRs involving public funds in an […]
Eligibility – Gift Deductibility and other NFP Tax Concessions – the ATO view of requisite nexus with Australia
In order to access income tax concessions (exemption from tax, gift deductibility status, and access to franking credit refunds), NFPs must meet certain degrees of nexus with Australia. This article outlines the tests and then discusses the nexus pre-condition governing entitlement to gift deductibility. In an accompanying article ‘Tax Exemption and Refund of Franking Credits […]
Eligibility – Tax Exemption and Refundability of Franking Credits – the ATO view of the requisite nexus with Australia
This article accompanies another article which identifies Australian nexus pre-requisites for certain tax concessions relevant to NFPs and discussed the test applicable to certain deductible gift recipients. The present article focuses on the application of the different nexus test governing access to exemption for tax and refundability of franking credits.
Some entities fall into more than one category for income tax exemption. This article considers the situation in which an entity is a ‘charity’ and is also exempt on another basis. Is such an entity required to register with the ACNC in order to obtain exemption?
Eligibility Article – Charities and Governance Standards: the ever increasing focus on charities’ financial affairs
This article considers the ACNC’s Governance Standard 5 and notes the implications of recent instances of non-compliance that it has identified.
Eligibility Article – ‘Taxable payments’ annual reporting for Government entities: a timely reminder
Government entities (whether federal, state or local) need to be aware of their impending obligation to report certain service or grant payments to the Australian Taxation Office. This article summarises the requirements of this reporting obligation, as well as exemptions for entities and specific payments.
Eligibility Article – Implications for NFPs on Labor proposal to end cash refunds on imputation credits
The recent Labor Party proposal to potentially end access to cash refunds of imputation credits is attracting plenty of discussion, but does it have any implications for NFPs in receipt of cash refunds of imputation credits on dividend income?