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Charities and NFPs: Tax concessions and reform


The charities and not-for-profit (NFP) sector benefits from a range of taxation concessions, but has not been immune from the impetus to tax reform. This article discusses both existing tax concessions, and recent and proposed reforms. The article examines what constitutes an NFP and a charity, and discusses the tax concessions available to charities and NFPs, including income tax exemption, deductible gift recipient (DGR) status, fringe benefits tax exemption, FBT rebate, goods and services tax exemption and rebate, and concessions for state and territory taxes and duties, land rates and water rates.

The article then examines reforms for charities and the NFP sector, including private and public ancillary funds, taxing NFPs for conducting unrelated commercial activities, the Australian Charities and Not-for-profits Commission, the statutory definition of charity, restating and standardising the special conditions for tax concession entities, charitable fundraising regulation reform, and a review of companies limited by guarantee.

Author profile

Yat To Lee CTA
Yat To is a Senior Associate of Thomsons Lawyers in Sydney, and has had 10 years' experience in taxation law. He has advised clients on a range of taxation issues, including Australian taxation issues relevant to the health and aged care industries, charities, not-for-profits, high net worth individuals, and foreign residents. He is a Chartered Tax Adviser of The Tax Institute, and is a legal practitioner admitted to the Supreme Court of New South Wales. Yat To has a Master of Laws degree (specialising in taxation subjects) from the University of Sydney, a Bachelor of Laws (Hons) degree from the University of Sydney, and a Bachelor of Commerce degree (majors accounting and finance) from the University of Sydney. He has published in The Tax Institute's Taxation in Australia journal, along with other publications on taxation areas, and has also presented on taxation topics. - Current at 01 February 2014
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