Changes to Income Tax Exempt Fund status
From 1 July 2014, income tax exempt funds (ITEFs) will be listed on the ACNC Register, unless the ACNC is advised otherwise. The Charities Act 2013 provided that these funds be registered with the ACNC as charities from 1 January 2014. This change means that these entities are registered with the ACNC, and will now be endorsed by the ATO to access tax concessions as a registered charity, rather than as an income tax exempt fund. The ACNC is delaying publishing information about ITEFs on the Register until after 30 June to enable these funds time to request information about their organisation or responsible persons to be withheld. If you wish to apply for information to be withheld from the ACNC Register details are obtained at http://www.acnc.gov.au/ACNC/FindCharity/About_Register/Withheld_info/ACNC/Reg/With_info.aspx. For further assistance please do not hesitate to contact us.
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The material distributed is general information only. The information supplied is not and is not intended to be, legal or other professional advice, nor should it be relied upon as such. You should seek legal or professional advice in relation to your specific situation.