June date for charities rules
The working party on charities and sporting bodies will report to the Government on the appropriate tax regime for voluntary organisations by June 30 next year, said the Minister of Finance, Mr Douglas, and the Minister of Social Welfare, Dr Cullen, yesterday. The working group was established earlier this year to examine the tax treatment of voluntary organisations and oversee the establishment of a commission for voluntary welfare agencies and
sporting bodies. Work has now begun on evaluation submissions, the Ministers said. They reaffirmed that the present income-tax regime for non-profit organisations would continue until after the working party had presented its report to the Government. The main features of that regime are that donations to charities between $5 and $2OO are taxdeductible at a rate of 33c in the dollar, and income from donations is taxexempt.
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Press, 23 November 1988, Page 9
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142June date for charities rules Press, 23 November 1988, Page 9
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