CHARITIES will have at least $500 million extra to help needy Australians under a plan to slash red tape in the federal Budget. It is expected the Gillard Government will provide $53.8 million over four years to establish an independent single regulator for the not-for-profit sector, something charity bosses have wanted for years.
But the Budget will also tighten the tax concessions for charities that run unrelated profit-making businesses.
As of July 1, they will have to pay income tax on any earnings from any newly created businesses that are not ploughed back into their core charity work.
Sources said traditional small-scale fundraising, such as lamington drives and fetes, would be safe.
The current maze of complex regulation is estimated to cost the nation's 600,000 not-for-profit and community organisations more than $500 million every year.
In some cases, charities are required to pay lawyers to make individual contracts with 20 or more state and federal departments, as well as commissioning fully audited reports costing thousands of dollars each.
The Herald Sun believes a new Australian charities and not-for-profits commission will start in July next year.
It will be independent, but will draw on the expertise of the Australian Taxation Office.
The commission will report to Parliament via the Assistant Treasurer.
The new regulator is also expected to have powers to investigate the finances of individual organisations that claim tax-exempt status.
It could even be able to remove the tax-exempt status of organisations found not to be acting in the public interest.
Assistant Treasurer Bill Shorten and Social Inclusion Minister Tanya Plibersek said this year that charities and community groups needed relief from red tape to concentrate on their core business.
weeklytimes.com.au 7 May 2011 from the heraldsun.com.au
Here is another scam and Money for Mates deal that the masses are deliberately misinformed about.
In the Anglo - Masonic governance structure 'charities' play an important part of society. All Freemasons MUST give to charity.
In charities and 'non for profit' organisations the majority of funds given to the organisation are dispersed into wages, new vehicles, operating costs, etc.
Financial information from charities indicates that over 80% of the government funds are providing the organisation with wages, and running costs, whereas only a small amount of monies ( anything from 10 - 15% ) is ACTUALLY allocated to the cause, i.e. the recipients.
Charities employ friends of friends of government or the organisation's head in what can ONLY be described as a blatant Money for Mates deal.
The public is being conned that the $500,000,000 is going to the needy people.
Because a lot of people 'feed' of this system it is UNTOUCHABLE.
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