Australian charities and Not-for-Profits tax exemptions and concessions
By Bill d’Apice of Makinson d’Apice in Sydney.
Bill d’Apice says that 60,000 Australian charities and 550,000 Australian Not-for-Profits need to remain up-to-speed with the tax situation in their sector, given the changing landscape introduced by the then new Coalition Government in 2014. He argues that it is important for charities and Not-for-Profits to liaise closely with their tax advisers to ensure they do not lose their tax concessions and exemptions. Bill notes that this includes income tax, capital gains tax, fringe benefits tax and even some limited GST exemptions and concessions.