Tax Concessions & the NFP Sector
Monday, 5th November 2012 at 9:48 am
The Federal Government’s Not-for-profit Sector Tax Concession Working Group has released a discussion paper seeking public submissions on how tax concessions can be improved to assist the NFP sector.
Called Fairer, simpler and more effective tax concessions for the not-for-profit sector, the discussion paper considers the entire range of tax concessions provided to the sector by the Federal Government, with a view to identifying reform options that could improve their effectiveness, in supporting the work of the sector.
The Chair of the Not-for-Profit Sector Reform Council, Linda Lavarch says the working group’s discussion paper is looking for input on a range of options that would reform the way in which the current envelope of support is provided to the sector.
“Tax concessions for the NFP sector are a longstanding and critical part of the Australian Government’s support for the important work of the sector. Reviewing these concessions to ensure that support is provided in the most effective possible way is important given the significant contribution that the sector makes to the lives of all Australians,” she said.
“The purpose of the paper is to stimulate discussion, debate and feedback to the NFP Sector Tax Concession Working Group. It is not a position paper and the options canvassed are not recommendations, the Assistant Treasurer David Bradbury said.
The NFP Sector Tax Concession Working Group was established in February 2012 with terms of reference requiring it to consider ideas for better delivering the support currently provided through tax concessions to the NFP sector.
Working Group Membership includes:
Linda Lavarch (Chair), Not-for-Profit Sector Reform Council
John Emerson AM, Herbert Smith Freehills
Brian Lucas, Catholic Archdiocese of Sydney
Elizabeth Lucas, Grant Thornton Australia
Greg Mackie OAM, SA Health
Tim Morris-Smith, Mission Australia
Heather Neil, RSPCA
Ann O’Connell, University of Melbourne
Anne Robinson, Prolegis
Miranda Stewart, University of Melbourne
Joe Zabar, UnitingCare Australia
The Working Group's final report is expected to be delivered to the Government by March 2013.
The deadline for written submissions in response to this discussion paper is by 10am on Monday December 17, 2012.
The discussion paper is available for download from the Treasury website.