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Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

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COVID-19 Impacts on Freedom of Information (FOI) April 1, 2020

The coronavirus (COVID-19) outbreak has had a significant impact on the general public, business and government. Here we comment on the impacts to Victorian Government agencies operating under the Freedom of Information Act 1982 (Vic) (FOI … Continued

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Emergency changes to tenancy laws – COVID-19 Emergency Response Bill 2020 (ACT) April 3, 2020

  Important changes to tenancy laws in the Australian Capital Territory (ACT) are being proposed under the COVID-19 Emergency Response Bill 2020 (the Bill) which was presented to the Legislative Assembly on 2 April 2020. … Continued

NFP tax concessions under the Commonwealth microscope – again

Submissions close 1 June 2015.

The Treasurer released the Re:think Tax discussion paper on 30 March 2015. The opening comments of the paper state ‘We want to have an open and constructive conversation with the community on how we can create a better tax system that delivers taxes that are lower, simpler, fairer… Releasing this tax discussion paper marks the start of what we hope will be a broad conversation about the current tax system and the issues confronting it.’

Chapter 7 focuses on the Not-for-profit (NFP) sector and revisits some familiar themes:

  • The value of revenue forgone from NFP tax concessions is significant and growing steadily.
  • NFP tax concessions may provide NFPs with a competitive advantage over their commercial competitors.  It is no surprise that fringe benefit tax concessions come in for particular attention, given their application to tax-effective salary packaging as a highly prized recruitment incentive.

Key NFP questions on which comment is sought include the following:

  • Are the current tax arrangements for the NFP sector appropriate?  Why or why not?
  • To what extent do the tax arrangements for the NFP sector raise particular concerns about competitive advantage compared to the tax arrangements for for-profit organisations?

To access the discussion paper, participate in the discussion, or make a formal submission, click here.

Formal submissions will be accepted until Monday 1 June 2015.

AUTHOR
 MIRIAM MCDONALD 5cm 300ppi Colour jpg 2006 Miriam McDonald
Consultant
+61 3 9258 3639
miriam.mcdonald@maddocks.com.au

 

Submissions close 1 June 2015.

The Treasurer released the Re:think Tax discussion paper on 30 March 2015. The opening comments of the paper state ‘We want to have an open and constructive conversation with the community on how we can create a better tax system that delivers taxes that are lower, simpler, fairer… Releasing this tax discussion paper marks the start of what we hope will be a broad conversation about the current tax system and the issues confronting it.’

Chapter 7 focuses on the Not-for-profit (NFP) sector and revisits some familiar themes:

  • The value of revenue forgone from NFP tax concessions is significant and growing steadily.
  • NFP tax concessions may provide NFPs with a competitive advantage over their commercial competitors.  It is no surprise that fringe benefit tax concessions come in for particular attention, given their application to tax-effective salary packaging as a highly prized recruitment incentive.

Key NFP questions on which comment is sought include the following:

  • Are the current tax arrangements for the NFP sector appropriate?  Why or why not?
  • To what extent do the tax arrangements for the NFP sector raise particular concerns about competitive advantage compared to the tax arrangements for for-profit organisations?

To access the discussion paper, participate in the discussion, or make a formal submission, click here.

Formal submissions will be accepted until Monday 1 June 2015.

AUTHOR
 MIRIAM MCDONALD 5cm 300ppi Colour jpg 2006 Miriam McDonald
Consultant
+61 3 9258 3639
miriam.mcdonald@maddocks.com.au