Good 360
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Leadership

ATO Rewrites GST Issues for NFPs


Monday, 21st December 2009 at 3:35 pm
Staff Reporter
ATO clarifies commercial activities of charities as it relates to GST

Monday, 21st December 2009
at 3:35 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
ATO Rewrites GST Issues for NFPs
Monday, 21st December 2009 at 3:35 pm

The move comes after continuing consultation with Australian charities.

The ATO says the rewrite aims to clarify the principles used in the ‘market value’ and ‘cost of supply’ tests, and to address feedback from charities regarding difficulties in using the previous version of those tests.

The rewrite will help charities:
·  better understand the principles of the ‘market value’ and ‘cost of supply’ tests
·  apply those tests correctly to their individual circumstances when determining the GST status of the supplies they make.

The new ‘Part 3’ has more examples to help charities determine correctly whether the supplies they make are GST-free.

Part 3 consists of the following sections:
·  cost of supply guidelines – section A
·  market value guidelines – section B
·  benchmark market values for charities – section C
·  the GST treatment of newsletters, magazines and journals provided by charitable institutions – section D
·  the cultural and performing arts sector – section E
·  the supply of meals in boarding schools, university halls and colleges and other residential education settings – section F
·  supplies of accommodation in university residential halls or colleges and other residential educational facilities – section G
some specific questions and answers.

More information can be found on the ATO website at www.ato.gov.au



FEATURED SUPPLIERS


Yes we’re lawyers, but we do a lot more....

Moores

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

More Suppliers

Tags : ATO, GST, Tax,

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Australian Gift Deductions Take a Great Leap Forward

Lina Caneva

Thursday, 12th October 2017 at 8:10 am

Charities Give Feedback on Govt Paper to Encourage Social Impact Investment

Rachel McFadden

Monday, 24th July 2017 at 9:57 am

New Paper Details Potential Reforms to DGR Status

Wendy Williams

Friday, 16th June 2017 at 9:57 am

NFPs Need to Be Aware of What Attracts ATO Attention

Terry Hayes

Wednesday, 22nd March 2017 at 12:57 pm

POPULAR

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Good 360
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!