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

    Effect of COVID-19 on our work

    Our public advice and guidance program continues to have a focus on COVID-19 related issues, including:

    • consideration of tax and super issues arising from the impacts of COVID-19 on the community, and
    • providing practical guidance on the tax and super aspects of the Government’s economic response.

    However, we have returned to our ongoing program of work and are updating the status of issues listed on the Program.

    If you are concerned about the delay in the delivery of particular pieces of public advice and guidance, email us at publicguidance@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
    To be advised

    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
    To be advised

    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

    See also:

    Last modified: 02 Sep 2020QC 57883