Not-for-profit and Charities Tax Issues Update
Source: South Australia
Published Date: 8 Mar 2023
Not For Profit (NFP) and Charitable entities operate in an increasingly complex environment. There is an increased awareness of how these entities operate, raise funds and pursue their objectives. What is also becoming more commonplace is for high-net-worth individuals to consider their own philanthropic pursuits, typically through the establishment of Private Ancillary Funds (PAFs).
This session explores some of the key issues NFPs, charities and those looking to establish and operate PAFs should be aware of, including:
- What exactly is a ‘PAF’ and what is it allowed to do? This includes considering where donations can come from and what funds might be used for
- For sporting and racing clubs – what are the current ATO views and where are there risks and opportunities to consider?
- What are some of the key tax and governance issues that the ATO and ACNC are focussing on in the sector? How can your clients address these?; and
- What does the new self-assessment regime for income tax exempt entities look like?
Details
- Published By: Timothy Stokes FTI
- Published On:8 Mar 2023
- Took place at:Adelaide Oval
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