Not for profits given a break by the Henry tax review – no changes to charitable status

Published on

The Rudd Government did not take up the recommendation from Dr. Henry’s tax review for charities to lose key FBT and GST concessions. His argument was the businesses that not-for-profit operate for the purpose of generating a ‘surplus’ should not receive the GST exemption and the staff of such ‘businesses’ should not receive the exemptions up to a value of $15,000 on a FBT items in their salary package. The government did not take up any of these recommendations.