ARTICLE
18 January 2015

Formerly a part public benevolent institution?

CO
Carroll & O'Dea

Contributor

Established over 120 years ago, Carroll & O’Dea Lawyers offers expert advice and strong advocacy for clients. With a commitment to high-level service and legal expertise in all areas, they blend tradition with modern skills.
Are you a charity that formerly operated as a PBI in part?
Australia Corporate/Commercial Law

Are you a charity that formerly operated as a PBI in part?

If so, the ACNC Act does not recognise your part PBI status and ACNC will have issued you with a new ABN for that part of your operations which are public benevolent institution operations. The issue of a new ABN does not automatically transition the FBT exemption, income tax exemption and DGR status of the part PBI. It is necessary to communicate with ATO to have those concessions transferred to the new ABN. It is best not to send covering letters to the ATO with these requests but to use the relevant forms carrying the new ABN. The person filing should be the named contact on the ATO's records so that he or she can make telephone follow up to ensure that the endorsements have been transferred to the new ABN.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More