Since 1999 the not for profit sector has also experienced a high level of review by both Commonwealth and State revenue authorities resulting in significant changes. Most recently, a raft of new measures was introduced into Commonwealth legislation including a statutory extension to the common law meaning of charity. If your client is a not for profit these materials are a must.
They include:
- ITEC and DGR endorsement procedures
- the statutory extension of the common law meaning of 'charity'
- the new endorsement arrangements for charities seeking income tax, FBT and GST concessions
- changes to GST and not for profits
- changes to the testamentary and other deductible gift rules
- cash donations and the five year deduction carry forward rules
- review of the various WA State tax exemptions including stamp duty, land tax, motor vehicle, payroll, rates and fire services levy.