Tax Deductible Gift Recipient Reform Update
Posted on December 11, 2017
On 28 August 2017 we published our legal update on proposed reforms to the Tax Deductible Gift Recipient not-for-profit review by the Treasury Department.
This has progressed with an announcement on 5 December 2017 by the Federal Minister for Revenue and Financial Services, Kelly O’Dwyer. In her media release she announced:
- All non-government DGR’s will be automatically registered as a charity with the ACNC from 1 July 2019 with a 12 month transitional period to assist with compliance.
- Public fund requirements will be abolished.
- The DGR registers and Overseas Aid Gift Deduction Scheme will be integrated with the ACNC charity register.
- The ACNC will provide a central location for applications and reporting and will work with the Australian Taxation Office to provide a streamlined approach.
- The Government will not proceed with the unlegislated 2009 – 2010 budget measure “Philanthropy - reforming the “in Australia” requirements that apply to tax exempt entities”.
The Government will consult on details of the implementation of the DGR reforms.
