Corney & Lind Lawyers


 
Update






1 June 2011
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NFP - "Unrelated Business Tax" consultation commences


Following the announcements on Budget Night of the intention of the Federal Government to tax the unrelated commercial activities of charities, the Commonwealth Government has now released the Consultation Paper "Better Targeting of Not-For-Profit Tax Concessions".  This Consultation Paper provides some clarity regarding the Government's intentions.  However, there is still a great deal of uncertainty regarding how the measures will apply, and what structural changes will be forced upon NFPs as part of the process.

 

Read our summary in our Legal Resource Centre.

 

If you are a not for profit and any of the following may apply to you, our summary is a must read:

  • You already have a commercial activity
  • You intend to start a commercial activity
  • You intend to develop and sell some surplus assets.
NFP - New draft ATO ruling for charities

 

The ATO has also recently released a long awaited new draft ruling for Charities:
  
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