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  • Advice under development – not-for-profit sector issues

    We are developing advice and guidance on the following not-for-profit sector issues.

    [3925] Ancillary funds – exercising the discretion to reduce the minimum annual distribution rate

    Title
    Law Administration Practice Statement
    Administration of the Commissioner’s discretion to reduce the minimum annual distribution rate for ancillary funds

    Registered
    June 2018

    Purpose
    The Practice statement will provide process guidance to staff when considering the exercise of the Commissioner’s discretion to reduce the minimum annual distribution rate under the amended Private Ancillary Fund Guidelines 2009 and the Public Ancillary Fund Guidelines 2011.

    Expected completion
    Early 2020

    Contact
    PAGPW&IC@ato.gov.au

    [3986] Income tax exempt sporting clubs

    Title
    Draft Taxation Ruling
    Income tax: exempt sporting clubs

    Registered
    September 2019

    Purpose
    The draft Ruling will update TR 97/22 to clarify when sporting organisations are eligible for the income tax exemption under section 50-45 of the Income Tax Assessment Act 1997 and to reflect changes in the nature of contemporary game and sporting practice.

    Expected completion
    April 2020

    Comments
    Further consultation is planned with stakeholders on the administrative approaches to support this ruling.

    Contact
    John Churchill, Tax Counsel Network
    Phone: (03) 6221 0258
    John.Churchill@ato.gov.au

    Justin Dearness, Tax Counsel Network
    Phone: (07) 3213 5745
    Justin.Dearness@ato.gov.au

    Last modified: 05 Feb 2020QC 57883