VIEW BLOGS 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.
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Miriam McDonald Consultant +61 3 9258 3639 miriam.mcdonald@maddocks.com.au |
