Deductible Gift Recipients – changes in regulation including: charity registration; no ‘in Australia’ reform (‘external conduct standards’ instead); report political donations and ‘remediation’ work by environmental organisations

Tax Month - December 2017

On 5 Dec 2017, the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, announced that the Government will reform the administration and oversight of organisations with Deductible Gift Recipient (DGR) status. Referring to the proposed reforms as ‘sensible’, she said that they will enhance the role of the Australian Charities and Not-for-profits Commission…

Digital Currencies ‘financial supplies’ – Treasury Laws Amendment (2017 Measures No 3) Regulations 2017 – to complete the measure giving ‘digital currencies’ the same status as ‘foreign currencies’

Tax Month - December 2017

The Treasury Laws Amendment (2017 Measures No 3) Regulations 2017 were registered on Mon 4.12.2017 (No. 3 Regulation). They amend  the main GST Regulations, to allow for ‘digital currencies’ (broadly fungible digital units of consideration that are valuable only as consideration – see actual definition below). This change is part the measure announced by the Government in…