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ARTICLE · 13 MAY 2011

Federal Budget effects on Aged Care

Gadens Lawyers
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In the Federal Budget delivered on 10 May 2011, several announcements were made that will affect the aged care sector particularly those operating as not-for-profit organisations. These include:

AustraliaTax
Arthur Koumoukelis
Arthur Koumoukelis
Jon Cheung
Jon Cheung

In the Federal Budget delivered on 10 May 2011, several announcements were made that will affect the aged care sector particularly those operating as not-for-profit organisations. These include:

  • tighter controls on tax concessions for charities operating business activities unrelated to their charitable activities
  • 'additional community places'

Tighter controls on tax concessions

Possibly the most important Budget announcement for the aged care sector relates to reforms to tax concessions to ensure that income tax concessions for not-for-profit organisations will only apply to profits generated by commercial activities that are directed back to the not-for-profit entity's charitable works.

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