ARTICLE · 01 JUNE 2011

Levelling the not-for-profit playing field

Gadens Lawyers

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In a speech to the National Press Club on 27 May 2011, Assistant Treasurer Bill Shorten released a consultation paper entitled ‘Better targeting of not-for-profit tax concessions’. The consultation paper marks the first stage of the reforms announced in the 2011 Federal Budget. Social enterprises, charities and not-for profit (NFP) organisations with significant income-generating activities will need to consider how these reforms may impact their ability to continue such activities in a sustai

AustraliaTax

Arthur Koumoukelis

Jon Cheung

In a speech to the National Press Club on 27 May 2011, Assistant Treasurer Bill Shorten released a consultation paper entitled 'Better targeting of not-for-profit tax concessions'. The consultation paper marks the first stage of the reforms announced in the 2011 Federal Budget. Social enterprises, charities and not-for profit (NFP) organisations with significant income-generating activities will need to consider how these reforms may impact their ability to continue such activities in a sustainable and tax-effective manner.

The intended purpose of the reforms is specifically aimed 'to ensure a level playing field between for-profit and NFP commercial activities'. This is a significant policy shift in the role and functions of not-for-profits as opposed to for profits delivering public benefit activities.

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