The Treasury and Revenue Legislation Amendment Act 2023 (NSW) introduced several key changes to how duty is applied to various transactions in NSW. This amending Act was introduced as part of NSW’s 2023-24 budget.
We have outlined the changes which are particularly significant for charity and not-for-profit organisations. Understanding these changes is crucial for organisations
Non-government schools in NSW that receive State and Commonwealth funding are required to comply with the Education Act 1990 (NSW) (Act) and the Education Regulations 2017 (NSW) (Regulations). The Department of Education has also published Guidelines to help schools understand their obligations under the Act and Regulations.
Earlier this year (March
In the latest issue of the F&P (Fundraising & Philanthropy) magazine, Joanne Grant, Partner at Makinson d’Apice takes a look at the legislative and compliance requirements that will impact the charity and not-for-profit sector in the next 12 months.
Click on the image to read the article.
Two notable developments in the NSW retirement villages sector have recently taken place – the first being the passage of new retirement village amendment legislation in November 2018 and the second being the appointment of a retirement village ambassador in December 2018.
The Retirement Villages Amendment Act 2018 was assented to on
The Retirement Villages Regulation 2009 NSW will be automatically repealed on 1 September 2017.
There has been a consultation process underway which has now been finalised and a new Regulation will come into force on and from 1 September 2017. Operators and residents should familiarise themselves with these changes.
The major changes that are proposed
The ACNC Commissioner has just released the ACNC’s Interpretation Statement on Public Benevolent Institutions. The Interpretation Statement provides guidance on the ACNC’s interpretation of the law pertaining to Public Benevolent Institutions (PBI) and insight into how the ACNC and its staff will assess a charitable organisation’s entitlement for endorsement as a PBI. The Interpretation
Federal Parliament has recently passed legislation that allows tax deductibility for donations to a new education charity called Australian Schools Plus.
For the first time, this will allow donors to receive a DGR receipt for donations for general educational purposes to particular schools.
What are the Opportunities for Deductible Gift Donations for Schooling?
Up until
The ACNC has recently released a register of charities that have not responded to communication from the regulator (i.e. no known address/contact details or correspondence has been returned to sender). Charities on this database risk losing their entitlements to charity tax concessions and have until 30 June 2014 to update their details and contact the ACNC. If these charities do not contact the ACNC, the ACNC will commence the process of revoking their registration as charities. If a charity’s registration with the ACNC is revoked it will not be entitled to charity tax concessions from the ATO.Continue Reading Missing charities could lose tax concessions
Just weeks before the intended commencement of the “Better Targeting of NFP Tax Concessions” measure, the Acting Assistant Treasurer has issued a press release stating “the Government has considered alternatives to the previous government’s better targeting of not-for-profit tax concessions measure. We have concluded that they are not required at this time”. This news will be welcomed by many charities and not for profit organisations.
The Better Targeting of NFP Tax Concessions, commonly known as the unrelated business income tax (or UBIT), was introduced as part of the 2011-2012 budget and had been delayed for a number of years.Continue Reading The Unrelated Business Income Tax is (finally!) dead
In our blog on 3 June 2013 we wrote that the Federal Government had introduced the Charities Bill 2013 and Charities (Consequential Amendments and Transitional Provisions) Bill 2013 into Parliament.
On 27 June 2013 only 1 day before Parliament rose and despite resistance from the opposition, the Bills passed unamended and are scheduled to commence