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Not-for-profits Update

Levelling the not-for-profit playing field

By Arthur Koumoukelis and Jon Cheung of Gadens Lawyers, Sydney

In a speech to the National Press Club on 27 May 2011, Assistant Treasurer Bill Shorten released a consultation paper entitled ‘Better targeting of not-for-profit tax concessions’.  The consultation paper marks the first stage of the reforms announced in the 2011 Federal Budget.  Social enterprises, charities and not-for profit (NFP) organisations with significant income-generating activities will need to consider how these reforms may impact their ability to continue such activities in a sustainable and tax-effective manner. read more…