[talk-au] Local entity... again...
deltafoxtrot256 at gmail.com
Fri Jul 2 07:20:49 BST 2010
These aren't official definitions and this isn't meant to be any kind
of tax advice so always consult an accountant etc etc etc..
To clarify a few terms first, 'Tax Deductibility Status' (TDS) means
any monetary donations enable the person or business donating to claim
this on their personal of business tax returns. 'Tax Concessions' (TC)
means if you incur a tangible cost, such as petrol, for the purposes
of enabling a non-profit entity to further it's goals.
Someone brought up an interesting point the other day I'd completely
forgotten about, even without TDS there is a chance we would still be
eligible for TC when donating time to OSM related activities. While I
highly doubt you'd be able to claim your time spent on this activity
you might be able to claim direct costs like petrol and depending on
the primary purpose things like GPS devices, although it would
definitely be a stretch trying to claim things like computers.
Also it seems like a good to register an organisation now that the new
tax year has just clocked over, can people please read over the
proposed association rules, as they'll be submitted some time next
week for incorporation, I have access to an accountant in NSW to use
for this, so if no one has any objections I'll get it processed in
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