The Tax Office lost its battle in the Federal Court on a ruling that charities can basically run any business and pays no tax on profits as long as they use those profits entirely for the charity or religion they represented. This means that they can run any business they like, as profitably as they like, without a tax bill. This can include retirement villages but also businesses associated with villages such as medical practices or travel agencies, as examples.
Opinion
These new retirement villages show providing care is here and now
Gone are the days when retirement living was defined by community centres, swimming pools and bowling greens. While these amenities still exist – the provision of care is now a core part of the value proposition. Hyegrove Willoughby on Sydney’s...
