A discussion paper of critical importance to the not-for-profit (NFP) sector has been released for public comment . The Fairer, simpler and more effective tax concessions for the not-for-profit sector Discussion Paper November 2012 (Discussion Paper) calls for submissions on the reform options by 17 December 2012.
Tax concessions go to the fiscal heart of NFP operations. Reform options pose both opportunities and threats and key stakeholders have a significant role to play in shaping the tax concession future for the sector through active participation in the discussion.
Maddocks acts for well over 100 NFP entities and intends to make a submission on a number of issues raised in the Discussion Paper, drawing on our experience and observations and comments from our clients over many years.
Many NFPs will want to make a submission directly to the Working Group. We are aware however that this is a very busy time of year and that the time for preparing responses is very short. If you are pressed for time but wish to make sure your views are conveyed to the Working Group, then we will be pleased to include your comments in our submission. Please read the entire update, to see the variety of ways to submit any comments you wish to be included.