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Not-for-profit organisations

Published on 12 Nov 99 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Within the GST environment, a non profit organisation will need to:7 classify the supplies that it makes into GST-free, GST taxable or input taxed;7 have a system to trap GST credits on the purchases they make; and7 have a system which can effectively balance the amount of GST payable and claim as credits GST paid on purchases and the credits for GST paid in fuel.To some extent, non profits will benefit from the removal of current Government taxes such as the wholesale sales tax which, although not paid directly by sales tax exempt non profits, would be paid in the distribution of goods that they purchase. To the extent that non profits are currently exempt from FID, debits tax and the State gambling taxes, there will not be the same level of savings as is expected for normal businesses.

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Roland CHIN

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