The importance of good governance in your NFP to obtaining and retaining tax concessions

The ramifications of poor governance are regularly evidenced in the public domain and can lead to a loss of public trust and confidence and in extreme situations threaten the viability of an organisation. Every non-profit (NFP) organisation benefits from good governance and its contribution to an organisation gaining and retaining the confidence and trust of … Read more

Eligibility – NFPs and viability

The ATO has released an article reminding not-for-profit entities that it is not just for profit businesses that need to review their viability in the current economic climate and provided a useful tool to assist such a review.   Prior to the announcement of the JobKeeper and JobSeeker scheme extensions, there was palpable concern about … Read more

Eligibility Q&A – When a charity receives investment income that includes dividends, can it claim a refund of franking credits?

Question Where a NFP charity receives investment income that includes dividends can it claim a refund of franking credits that are included on the dividend statements and if so how? If the charity wholly or partially owns a company that undertakes commercial activities and pays a dividend to the charity do the same rules apply? … Read more

Payments to volunteers at your NFP or charity: What to keep in mind

Volunteers play an important and necessary role within the not-for-profit (NFP) and charitable sector. Involving volunteers can add value and support your organisation in many ways including engaging a more diverse range of skills, experience and knowledge, building better relationships within the community and delivering services or projects in a more cost-effective manner. Most organisations … Read more

FBT and Eligibility – Cents per km rates

Have you factored in the 2020-21 car expense rates for FBT and Income Tax purposes respectively? FBT – cents per km rate for motor vehicle (other than a car) applied from 1 April 2020 When an employee uses a motor vehicle other than a car for private use, it gives rise to a residual benefit … Read more

Eligibility – The NSW Rural Fire Services Case – Donor expectations not met?

Electronic media reports of the recent NSW Supreme Court decision guiding the NSW Rural Fire Service & Brigades Donation Fund on the application of $51m in bushfire donations have been confusingly brief. At least some donors will be disappointed. The decision has implications for both charities and their donors. The January 2020 bushfires led to … Read more

Eligibility – How is NDIS revenue treated for JobKeeper purposes?

The ATO has recently clarified the treatment of NDIS revenue for JobKeeper purposes. One of the many issues an employer needs to determine when considering eligibility to receive JobKeeper payments was whether the requisite decline in turnover could be established. A ‘concession’ provided by the Government in relation to how an employer should determine ‘turnover’ … Read more

Eligibility – JobKeeper: additional considerations for not-for-profits, universities and religious institutions

The JobKeeper Payment Scheme has many intricacies and complexities. This is particularly true for not-for-profit entities, universities and religious institutions who are subject to additional rules and considerations in relation to the scheme.  As most readers would be aware, the JobKeeper Payment (JKP) scheme has been a major focus for all pockets of Australia since … Read more