Not for Profit tax reform

The Federal Government has again deferred the long awaited legislation as it relates to the Not for Profit sector where it was seeking to remove the FBT and other concessions where the NFP performed unrelated commercial activities.

The original plan was for the law to become active from July 1 2014 for all activities after 10 May 2011 with any activity already commenced prior to May 2011 will need to comply by July 2015