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An examination of recent taxation amendments, corporate law reforms and Queensland legislative reforms affecting nonprofit organisations

McGregor-Lowndes, Myles (1998) An examination of recent taxation amendments, corporate law reforms and Queensland legislative reforms affecting nonprofit organisations. Queensland University of Technology, Brisbane, QLD. [Working Paper]

Abstract

There is a tax amendment bill which will be debated. The Government has promised to outline its plan for the reform of the taxation system sometime this year. The plans appear to go beyond the mere introduction of some sort of goods and services tax to reform of the whole taxation system including fiscal relations with the States. Not for profit organisations will find their taxation environment will change. Governments are reluctant to permit exemptions to a GST style arrangements. GST trade offs such as reduced income tax rates and abolishing indirect taxes are useless to nonprofit organisations, as many are already exempt from such imposts. Administrative changes to tax collections may also have an impact. If the government decides to make an individual PAYE taxpayer return optional in exchange for no or standard deductions, this may have an effect on fundraising. The FBT and salary packaging schemes that not for profit organisations use will be under intense scrutiny. A regionalisation of the ATO along the successful model of the ASC would see discrete areas such as not for profit exemptions being centralised in one regional office for the whole of Australia. For example the Tasmanian ASC Office has the responsibility for much work in respect of corporate charities and not for profit companies.

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ID Code: 51526
Item Type: Working Paper
Additional URLs:
Keywords: Nonprofit Organisations , Taxation, Law
ISBN: 1864351314
ISSN: 1037-1516
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Taxation Accounting (150107)
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Corporations and Associations Law (180109)
Divisions: Current > Research Centres > Australian Centre for Philanthropy and Nonprofit Studies
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Advertising, Marketing & Public Relations
Copyright Owner: Copyright 1998 Queensland University of Technology & The Author
Deposited On: 11 Jul 2012 08:48
Last Modified: 28 Sep 2013 08:29

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