Insolvency issues for directors of not-for-profit companies

The recent liquidation of a large college in Victoria which displaced over 1200 students, is a reminder to directors of not for profit (NFP) organisations of their duties. Even though directors in this sector are sometimes ‘well meaning amateurs,’ they play an important function and carry the burdens and responsibilities that accompany the office of…

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Charity donation schemes: ATO warning

The ATO has warned taxpayers of arrangements that promote tax deductions for gifts of pharmaceuticals to charities for overseas use, similar to that outlined in TA 2010/8 – Gift deductions for donation of pharmaceuticals to charities operating overseas. The ATO says taxpayers should be aware that any arrangements they enter into with similar features may…

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