The purpose of the paper, titled Fairer, simpler and more effective tax concessions for the not-for-profit sector, is to stimulate discussion, debate and feedback. The newly formed Not-for-Profit (NFP) Sector Tax Concession Working Group stresses that it is not a position paper and the options canvassed are not recommendations.
The consultation paper’s reform options cover:
- Income tax exemption
- Deductible gift recipient (DGR) status
- Fringe benefits tax (FBT) concessions
- GST concessions.
“Consultation with the NFP sector and the public is critical to inform the task of the Working Group and achieving lasting reform,” says Minister for Social Inclusion Mark Butler.
“I encourage interested stakeholders to make a submission in response to the discussion paper.”
The Working Group is chaired by Linda Lavarch, the chair of the NFP Sector Reform Council, and includes a diverse range of representatives from the NFP sector and technical experts.
The Working Group’s final report will be delivered to the Government by March 2013.
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