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Charities & Not-For-Profits Law in Australia

Monthly Archives: August 2012

Update: NFPs and UBIT (taxation of ‘unrelated business income’)

Posted in Tax Exemptions & DGR Status

Summary – Earnings derived from “new” activities that do not directly support the NFP organisations altruistic purposes are now subject to tax. We thought it appropriate to provide an update on the proposals for taxation of unrelated business activities (commonly referred to as “UBIT”). In the 2011-12 Federal Budget the government announced it will reform… Continue Reading

ACNC Bills: Inquiry Report issued

Posted in Compliance, General, Governance, Tax Exemptions & DGR Status

  Summary – The House Standing Committee on Economics has presented its Report on the Exposure Draft of the Australian Charities and Not-For-Profits Commission Exposure Draft Bills. On 15 August 2012, after completing its Inquiry, the House of Representatives Standing Committee on Economics issued its report entitled “Report on the Exposure Draft of the Australian… Continue Reading