Survey Launched on Not for Profit Tax Concessions
Wednesday, 16th January 2013 at 3:50 pm
A new Not for Profit survey on tax concessions has been launched in response to the Federal Government’s NFP tax concessions discussion paper.
National accounting firm, BDO, which works with Not for Profit clients says there is valuable opportunity for Not for Profits to help inform the reform agenda currently being considered by the government in relation to the Not for Profit sector.
The Federal Government released the discussion paper Fairer, simpler and more effective tax concessions for the not-for-profit sector in November 2012.
BDO says it launched the survey in order to gauge sentiment across the sector for the possible changes floated by the paper.
BDO national tax director, Lance Cunningham, urged all Not for Profit organisations to participate in the survey and have their say on the discussion paper.
“The BDO survey provides an opportunity for Not for Profits to register their views about any changes to the tax concessions that currently apply to their organisations,” Cunningham said.
“Based on the discussion paper that has been released, it is fair to say that the Federal Government is considering some fairly sweeping changes that may have significant implications for Not for Profit organisations.
“We’re encouraging any organisations that may be affected to complete the survey, especially those who were unable to make a submission to the working group before they closed late last year.”
Among the changes being considered by the Federal Government’s working group are changes to the limit for deductibility for donations, changes to Fringe Benefits Tax concessions and limiting the entities eligible for deductible gift recipient status.
The BDO NFP Tax Concession Survey will close on February 8, 2013.