Commonwealth legislation

Goods and Services Tax: Frequency of Fund-raising Events Determination (No. 31) 2016

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This rule lets endorsed charities, gift-deductible entities and government schools keep special GST treatment for small-scale fundraising by capping fund-raising events at 15 per financial year.

If an organisation runs more than 15 events those activities may be treated as a "regular series," changing GST treatment. "Input taxed" means no GST is charged on sales or donations but GST on costs cannot be claimed. "Financial year" means the organisation’s own 12-month accounting period.

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Current sections

Direct links to the current provisions in Goods and Services Tax: Frequency of Fund-raising Events Determination (No. 31) 2016.

Goods and Services Tax: Frequency of Fund-raising Events Determination (No. 31) 2016

Legislative Instrument

Goods and Services Tax: Frequency of Fund-Raising Events Determination (No. 31) 2016

I, Timothy Dyce, Deputy Commissioner of Taxation, make this determination under subsection 40-165(4) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act).

Timothy Dyce

Deputy Commissioner of Taxation

Dated: 24 February 2016

Name of determination

This determination is the Goods and Services Tax: Frequency of Fund-raising Events Determination (No. 31) 2016.

Commencement

2. This determination commences on the day after registration.

Repeal of previous determination

3. A New Tax System (Goods and Services Tax) Frequency of Fund-raising Events Determination (No. 1) 2001 (the pervious determination) \- F2005B01993, registered on 21 November 2005, is repealed on the commencement of this determination.

Determination (Who is covered by the determination)

4. The determination applies to an endorsed charity, a gift-deductible entity or government school that conducts a fund\-raising event, records the event as input taxed, and chooses to have all supplies made in connection with the event treated as input taxed under section 40-160 of the GST Act.

Frequency of fund-raising events

5. The frequency of fund-raising events that may be held without forming any part of a series or regular run of like or similar events for the purposes of subsection 40-165(1) of the GST Act is fifteen fund-raising events in any financial year.

Definitions

6. The following expression is defined for the purposes of this determination:

financial year means the 12 month period ending on the date the entity balances its accounts.

7. Other expressions in this determination have the same meaning as in GST Act.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Goods and Services Tax: Frequency of Fund-raising Events Determination (No. 31) 2016