Last night’s Federal Budget announced a number of significant intended changes to the Non profit (Not-for-Profit) regulation landscape in Australia.
The changes announced in the budget last night are:
- The establishment of a Charities Commission to be the new gatekeeper for tax concessions rtaher than the ATO;
- The adoption of a statutory definition of “Charity” in place of the meaning being derived from hundreds of years of case law;
- The taxation of the unrelated commercial activities or business enterprises of Charities.
We have written about these proposed changes in our Legal Resource Centre:
More information: www.corneyandlind.com.au