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Life cycle issues for charities
Published on 01 Nov 15 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The Australian tax system offers a number of concessions to charities in the way that they deal with tax on income, salary packaging opportunities and GST. This article examines some of the tax and regulatory issues related to charities, and presents a casebook of experiences encountered by the author in professional practice. Charities are businesses and experience the same issues that any business experiences within the business life cycle. A business life cycle has three main parts, the establishment of the business, the operating of the business and the end of the business.
The article discusses each stage of the business cycle with reference to tax and regulatory matters affecting the charity sector and illustrates current issues by reference to examples encountered by the author in practice. In this article, the term “charity” is used interchangeably to describe entities that are charities and others within the not-for-profit sector.
Author profile
Martin Kirkness CTA
Martin is a Partner of Dry Kirkness. He has provided tax and advisory services to a broad range of not-for-profit clients for many years. Dry Kirkness specialises in the audit of the sector and assists many clients to manage their tax positions. He has served as a board member of not-for-profits and brings his recent experience to this convention. - Current at 15 April 2015
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