Submission on Deductible Gift Recipient Register Reforms
CA ANZ has lodged a submission about consolidating all deductible gift recipient registers with the ATO
In brief
- Four deductible gift registers are not currently administered by the Australian Taxation Office
- It is proposed to move these 4 registers to the ATO and to streamline some rules
- CA ANZ welcomes these changes as they should substantially reduce red tape
Four deductible gift registers (DGR) are not currently administered by the Australian Taxation Office (ATO). These DGRs are:
- Environmental Organisations which is administered by the Department of Climate Change, Energy, the Environment and Water
- Harm Prevention Charities which is administered by the Department of Social Services
- Cultural Organisations which is administered by the Office for the Arts in the Department of Infrastructure and Transport, Regional Development, Communications and the Arts
- Overseas Aid Organisations which is administered by the Department of Foreign Affairs and Trade
The exposure draft legislation proposes that these be transferred to the ATO. The exposure draft legislation also proposes to allow a public fund to fulfil a gift fund requirement and funds to be transferred to another DGR upon winding up.
CA ANZ welcomes both of these proposals as they should substantially reduce red tape. It is expected that application time for DGR status for these funds will be reduced from up to two years to around one month.
CA ANZ suggests there should be an expectation that combined administration by the ATO of all DGR registers should provide consistency and efficiencies in the reporting by DGR entities.
