Treasury: Australia's Future Tax System (April 2009)

Philanthropy Australia’s final submission in response to the review of Australia's Future Tax System (known colloquially as the Henry Review) is now available for download: click here to download the PDF file.

The submission is brief and focuses on the possible discontinuation of the current dividend imputation regime as part of the Tax Review. A background paper by Dr Ian McKenzie, former Director of Macquarie Group and Assistant Secretary to the Australian Treasury, is included.

Download from the Submissions & Papers page.

Treasury: Improving the Integrity of Prescribed Private Funds (January 2009)

Philanthropy Australia’s final submission in response to the Treasury discussion paper ‘Improving the Integrity of Prescribed Private Funds’ is now available: click here to download the PDF file.

Treasury's discussion paper, released in late November 2008, is intended to improve the integrity of Prescribed Private Funds (PPFs) and to provide the trustees of PPFs with greater certainty as to their philanthropic obligations.

Philanthropy Australia's submission was prepared after extensive consultation with members and non-members, including individual philanthropists, professional advisors representing a large number of PPFs, staff and trustees of existing PPFs, and representatives from the not-for-profit sector.

Download from the Submissions & Papers page.

Treasury: Financial Reporting by Unlisted Public Companies

Philanthropy Australia commissioned Mr Stewart Leslie from Causeway Consulting Pty Ltd - a former partner of KPMG and author of the Institute of Chartered Accountants report “Not-for-profit sector reporting: a research project” - to draft a brief submission. This was reviewed by the Philanthropy Australia Technical Committee and was submitted on 3 August 2007.

Download from the Submissions & Papers page.

Australian Accounting Standards Board (AASB): Request for Comment on a Proposed Revised Differential Reporting Regime for Australia and IASB - Exposure Draft of a Proposed IFRS for Small and Medium-sized Entitie 

Philanthropy Australia was invited to comment on this ED. As the majority of our Members are not required to prepare general purpose financial reports, they are not directly affected by this proposal. However, our Members do depend on transparent and consistent reporting by organisations they fund as part of their grant assessment processes. Therefore Philanthropy Australia has made a submission which Stewart Leslie was commissioned to prepare for review by Philanthropy Australia’s Technical Committee.

Gina Anderson attended the consultation in Sydney. For details of the consultation and a copy of the Exposure Draft, please go to the AASB website.

See the Submissions & Papers page to download Philanthropy Australia's submission.