Count down to the GST...a warning for charities
Wednesday, 17th May 2000 at 1:05 pm
Australia’s Tax Commissioner, Michael Carmody has expressed his concern that charities may still be uncertain about registering for an Australian Business Number (ABN) under the New tax System.
Not for Profits have until the cut off date of 31 May to make an application and be assured of getting an ABN before the 1 July start of the new system.
The Tax office says that while many charities and non-profit groups are well prepared for tax changes, some have been trying to ignore the changes and those that do not register for the ABN will lose their income tax exempt and tax deductibility status from 30 June.
The ATO also advises that if a charity is a smaller part of a larger organisation it should contact its parent body to find out if it is already covered by ABN registration
A new Charity Pack booklet for charities has just been released, which explains the tax changes for non-profit groups. It is available from the Tax Office by calling 13 24 78. Also check it out at www.taxreform.ato.gov.au under “Topics and Publications”.