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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.

    [3911] 'In Australia' requirement deductible gift recipients

    Title
    Final Taxation Ruling
    Income tax: ‘in Australia’ requirement for certain deductible gift recipients and income tax exempt entities.

    Registered
    March 2018

    Purpose
    The final Ruling will provide the Commissioner's view of the legal and practical operation of conditions in Division 30 and Division 50 of the Income Tax Assessment Act 1997 which require that:

    • a body seeking deductible gift recipient status be 'in Australia’
    • an entity seeking income tax exemption must have a ‘physical presence in Australia, and to that extent, incur its expenditure and pursue its objectives principally in Australia’.

    Expected completion
    July 2019

    Comments
    Draft TR 2018/D1 published on 4 July 2018. Comments period closed on 10 August 2018. We are considering comments and issues raised during consultation.

    Contact
    Dean Karlovic, Private Wealth
    Phone: (03) 9285 1686
    Dean.Karlovic@ato.gov.au

    [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
    Late 2019Contact
    PAGPW&IC@ato.gov.au

    Last modified: 04 Jul 2019QC 57883