Restating and standardising the special conditions for tax concession entities (including the 'in Australia' conditions)
The Government is restating and standardising the special conditions to ensure the proper operation of not-for-profit entities, their use of public donations and funds and protection of their assets.
The Assistant Treasurer has released for public consultation a revised exposure draft of legislation that will restate the 'in Australia' special conditions for tax concession entities. Initial exposure draft legislation closed for comment on 12 August 2011 and the revised draft incorporates some changes arising from the consultation process.
The closing date for submissions is Friday, 11 May 2012
For further information please see: http://www.treasury.gov.au/ConsultationsandReviews/Submissions/2012/In-Australia-Special-Conditions-for-Tax-Concession-Entities-Revised and the Ministers press release.