Tax Deductible Gift Recipient Reform Discussion Paper - have your say
On 15 June 2017 the Australian Government released a discussion paper on Tax Deductible Gift Recipient (DGR) Reform Opportunities. It is arguable that reform to the DGR endorsement process and the need for a process to review established DGRs is well overdue.
The Treasury requests submissions from interested individuals and organisations by 14 July 2017.
Some of the proposals under consideration include:
- requiring all DGRs to be registered charities regulated by the Australian Charities and Not-for-profit Commission (ACNC);
- transferring administration of the four DGR Registers (Environmental; Harm Prevention; Overseas Aid; Cultural Organisations) to the Australian Taxation Office (ATO);
- removing the public fund requirements for certain DGRs;
- regular review of DGRs by the ACNC and/or the ATO;
- annual certification by a DGR that it meets the DGR eligibility requirements;
- a sunset period of no more than 5 years for specifically listed DGRs.
For further information about Tax Deductible Gift Recipient issues and how it can impact you, please contact our National Pro Bono Partner, Karen Keogh.
Karen Keogh, Partner