Summary The Commonwealth Government proposes to ‘introduce a 30 per cent minimum tax on discretionary trusts to improve the fairness of the tax system’ as a component of the 2025-26 Federal Budget.[1] The new tax on family discretionary trusts is ‘estimated to increase [tax] receipts by...
Summary The changes to the taxation of discretionary trusts proposed in the 2026-27 Federal Budget Papers are likely to have a significant adverse effect on charitable giving and philanthropic activity within Australia. The Government proposes to ‘introduce a 30 per cent minimum tax on discretionary trusts...
Those Australian not-for-profit entities that have been self-assessing their Commonwealth income tax status as exempt need to start declaring the basis of this assessment to the Australian Taxation Office (‘ATO’) in an online form due by 31 March 2025. Previously not-for-profit entities with an Australian...
Today the long-anticipated Productivity Commission Final Report on Philanthropy within Australia was tabled in the Commonwealth Parliament. The Report, available here, contains very significant recommendations that will have implications for every charity within Australia should they be implemented by the Commonwealth Government. The following provides a...
Overnight the Productivity Commission released its Draft Report on Philanthropy within Australia. The Report contains some very significant recommendations that will impact upon every charity within Australia if they are maintained within the Commission’s final report due in May next year and if they are...
FCL Principal Mark Fowler published an article in the Canberra Times over the weekend commenting on the Commonwealth Government's Housing Australia Future Fund. In it he expresses the view that the HAFF legislation has not sufficiently addressed the uncertainties that arise in respect of the...
This afternoon the Australian Charities and Not-for-profits Commission released its long awaited Commissioner's Interpretation Statement on Public Benevolent Institutions. Importantly, Natasha Sekulic, the Acting General Counsel clarifies her view that the 'updated PBI CIS does not narrow our interpretation of PBI. Charities that are currently...
The ACNC has announced that Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing, the Hon Michael Sukkar MP, has been confirmed to take responsibility for oversight of the Australian Charities and Not-for-profits Commission. The Hon Michael Sukkar previously held ministerial oversight...
In a joint press release the Commonwealth Treasurer Josh Frydenburg and Senator the Hon Zed Seselja Assistant Minister for Finance, Charities and Electoral Matters have today announced reforms to the regime regulating fundraising by Australian charities, intended to harmonise fundraising laws by allowing a 'single...
Earlier this week the Hon. Zed Seselja announced the Commonwealth Government’s intention to introduce legislation in 2021 that will see charities deregistered where they engage in trespass, unlawful entry, malicious damage or vandalism or threaten violence, or where they encourage such conduct. This would expand...
