A proposed law would require a not-for-profit organisation to pay tax on profits:
The law will apply to commercial activities that start after 7.30pm (AEST) on 10 May 2011. There are transitional provisions for pre-existing commercial activities. The law was expected to be in force from 1 July 2011. But to allow further consultation, it is now expected to be in force from 1 July 2012.Jane Tu
The Assistant Treasurer has announced that the new law to implement the 2011 Budget proposal to better target tax concessions provided to not-for-profit organisations has been postponed from 1 July 2011 to 1 July 2012.
The postponement is to provide additional time for consultation, and to reduce uncertainty for not-for-profit organisations that commenced commercial activities after the 2011 Budget announcement.
Under the proposed law, the not-for-profit income tax concessions that currently exist will apply only to profits:
The proposal means that not-for-profit organisations:
Although the law is not expected to be in force until 1 July 2012, it will apply to profits:
You can read:
Source: This article was first published in Thomson Reuters? Weekly Tax Bulletin. To subscribe to Weekly Tax Bulletin, or for more information, please
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 Thomson Reuters? Weekly Tax Bulletin 2011 WTB 19 .
 Assistant Treasurer's media release No 009, 30 March 2012.
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