The end of increased funds to charity does not justify the means

The Administrative Appeal Tribunal has upheld the decision of the ACNC not to allow the registration of charities because of the underlying reasons for their registration. Cancer & Bowel Research Australia Ltd, Breast Cancer Australia Ltd, and Kids Cancer Research Australia Ltd (entities) were all incorporated in May 2017 as companies [...]

2021-11-16T16:16:00+10:00November 16th, 2021|

Where angels now fear to tread

An angel investor is an individual (usually high net worth) who provides financial backing for small start-ups or entrepreneurs, typically in exchange for ownership equity in the company. They are high risk investments, but essential to getting new inventions to market. The Federal Court had previously decided in Commissioner of Taxation v [...]

2021-11-16T16:16:10+10:00November 16th, 2021|

Shake up in School Building Funds

There are nearly 5,000 school building funds (SBF) on the books of the ATO and it is the second largest category of Deductible Gift Recipients (DGRs) after Public Benevolent Institutions. The ATO has had SBF on the compliance radar for a long time as it believes there are substantial risks to [...]

2021-11-16T16:16:19+10:00November 16th, 2021|

Did you miss something in 2021?

Australian Taxation Office (ATO) The ATO has recently refreshed its compliance and strategic plans and here is our pick of the highlights. On the current ATO Watch list are: Public and Private Ancillary Funds – annual scrutiny of finances and compliance with Guideline requirements. Refund of Franking Credits – review of [...]

2021-11-16T16:16:28+10:00November 16th, 2021|

Federal amendment to Sex Discrimination Act 1984 for volunteers

Background In 2018, the Government funded the Australian Human Rights Commission (AHRC) to undertake a National Inquiry into sexual harassment in Australian Workplaces. The resulting Respect@Work Report recommended legislative amendments to simplify and clarify the overarching legal frameworks to ensure that employers and workers are able to effectively address sexual harassment [...]

2021-09-28T14:03:33+10:00September 28th, 2021|

Gifts of trading stock to DGRs

Many businesses and DGRs overlook the ability to claim a tax deduction for a gift of trading stock. Trading stock is defined as anything a business produces, manufactures or acquires, to manufacture, sell or exchange and includes livestock. Trading stock is subject to special tax rules that enable a business to [...]

2021-09-28T14:03:24+10:00September 28th, 2021|

DGRs to register as charities

Treasury Laws Amendment (2021 Measures No. 2) Bill 2021 which requires non-government deductible gift recipients to be a registered charity was passed on 2 September 2021 and will have effect from 14 December 2021. The measures were first flagged in late 2017 after Treasury released a discussion paper on potential reforms [...]

2021-09-28T14:33:11+10:00September 28th, 2021|

Mergers – bringing everyone along on the journey

Background and facts Australian Karting Association Ltd (Karting Australia), is the Australian body responsible for promoting the sport of karting in Australia and a company limited by guarantee. A previous federated association known as AKA Inc had carried out these responsibilities, but in 2013 the operations of AKA Inc were transferred [...]

2021-09-28T14:03:00+10:00September 28th, 2021|

Handing over complaints about a former employee in a historical sex abuse situation

Between 1973 and 1980, SDA (a pseudonym for the claimant) resided in St George’s Home for Children (Home). The Home was run by the Corporation of the Synod of the Diocese of Rockhampton (Church). The second respondent was the State of Queensland. Reverend M had been the superintendent at the Home [...]

2021-09-28T14:02:43+10:00September 28th, 2021|

Wage underpayments – to err is human, but to forgive is not the policy of the Federal Court

Background A judge of the Federal Circuit Court of Australia imposed penalties on Yooralla in respect of 4 contraventions of the Fair Work Act 2009 (Cth) (Act) involving underpayments on account of ordinary hours of work, annual leave, annual leave loading, and personal leave that were payable to an employee of [...]

2021-09-28T14:02:26+10:00September 28th, 2021|
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