04 Feb 13 Start date for Not–For–Profit tax concession changes deferred to 1 July 2014
In media release No 2013/003, issued 31 January 2013, the Assistant Treasurer and Minister Assisting for Deregulation, David Bradbury, announced that the 2011-12 Budget measure "Better Targeting of NFP Tax Concessions" will now commence from 1 July 2014.
"This extension will enable further consultation and engagement with the NFP sector on this measure and ensure there is an opportunity for detailed stakeholder input to be provided," Mr Bradbury said.
The start date of 1 July 2014 is proposed to apply to activities that commenced after 7:30 pm (AEST) on 10 May 2011. The measure will not impact on tax concessions that were used for these activities prior to 1 July 2014.
As part of transitional arrangements, relevant activities that commenced prior to 7:30 pm (AEST) on 10 May 2011 will not become subject to the measure until 1 July 2015. The measure will not impact on tax concessions that were used for these activities prior to 1 July 2015.