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|

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|

More deductible gift recipient reform

Background Treasury Laws Amendment (2021 Measures No. 2) Bill 2021 was introduced into Federal Parliament on 17 March 2021. The measures were first flagged in late 2017 after Treasury released a discussion paper on potential reforms to the deductible gift recipient (DGR) framework early that year. These included requiring all DGRs [...]

2021-03-31T09:14:48+10:00March 31st, 2021|

Shed load of donations – Men’s Shed DGR status

There are currently over 1,000 community sheds for men in Australia, and around 20 community sheds for women. The make-up of sheds comprises a high level of men from regional and remote areas and from lower socio-economic areas when compared to the general population.  Men’s Sheds are thus ideally placed as [...]

2021-02-16T08:50:52+10:00February 16th, 2021|

ACNC to Audit PBI Status

On 5 December 2017, the Commonwealth Government announced a package of reforms to improve the oversight of organisations with deductible gift recipient (DGR) status.  These reforms included bringing Departmental register DGRs such as environmental funds and overseas aid funds under the supervision of the Australian Charities and Not-for-profits Commission (ACNC).  The [...]

2020-12-14T11:47:30+10:00December 14th, 2020|

Mid Year Economic and Fiscal Outlook Forecast: Streamlining of DGRs put on hold for a year

In the Mid Year Economic and Fiscal Outlook Forecast (MYEFO) released in mid-December 2018, the government put back the implementation of the streamlining of deductible gift recipient (DGR) regulation by a year. The previous year’s MYEFO announced $5.7 million for the Australian Charities and Not‑for‑profits Commission (ACNC) and the Australian Taxation Office (ATO) to [...]

2019-03-28T09:59:46+10:00March 28th, 2019|
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