The officials' issues paper on Taxation and the not-for-profit sector has been out since 24 February and is the subject of much debate in the media and within the charitable community. Submissions close at the end of March.
If changes result from the issues raised in the paper, those changes will affect all charities and not-for-profits.
The most significant issue raised in the paper is around the charity business income tax exemption. However, the paper also discusses a range of other issues that relate to charities, donee organisations and not-for profits including FBT, mutuality and donations.
If you are a charity, donee organisation or not-for-profit, this is your time to be heard.
Our tax and trusts teams work actively in the charities space and would be happy to discuss how these proposals may affect your organisation or we can provide assistance with preparing or reviewing your submissions.
