Non-Profit News Service No. 0394 - Later start date for better targeting of not-for-profit tax concessions
On 31 January 2013, the Australian Government announced a later start date for the 2011-12 Budget measure "Better Targeting of NFP Tax Concessions".
Extracts from the Assistant Treasurer's media release No. 3 are included below (emphasis added):
The Gillard Government has announced that the 2011-12 Budget measure "Better Targeting of NFP Tax Concessions" will now commence from 1 July 2014.
The start date of 1 July 2014 is proposed to apply to activities that commenced after 7:30 pm (AEST) on 10 May 2011. The measure will not impact on tax concessions that were used for these activities prior to 1 July 2014.
As part of transitional arrangements, relevant activities that commenced prior to 7:30 pm (AEST) on 10 May 2011 will not become subject to the measure until 1 July 2015. The measure will not impact on tax concessions that were used for these activities prior to 1 July 2015.
We previously advised of this measure in:
- Non-Profit News Service No. 0325 - 2011-12 Budget: Measures relevant to non-profit organisations.
- Non-Profit News Service No. 0328 - Consultation paper released: Better targeting of not-for-profit concessions.
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