Review of Australian philanthropy
The Government has announced that the Productivity Commission will undertake a review of Australian philanthropy with the aim of boosting donations to charities and meeting the Australian Government’s goal of doubling philanthropic giving by 2030. The Government said that “philanthropic giving” underpins the crucial efforts of charities, not for profit organisations and community groups to support vulnerable Australians and build social capital and connectedness in Australian communities. It also noted that while deductible donations have increased as a share of total income, the percentage of taxpayers making donations has fallen. The Productivity Commission will consult broadly, including with Commonwealth, state and territory governments, the philanthropic, not‑for‑profit and business sectors and the general public. It will also hold public hearings, invite public submissions and release a draft report for public review.
ATO reminder: Electronic sales suppression tools illegal
The ATO has issued a reminder that it is committed to tackling “electronic sales suppression tools” (ESSTs) are used to manipulate sales records so a business can under-report its income and avoid paying the right amount of tax. The ATO emphasised that producing, supplying, using or even just possessing an ESST is illegal and harsh penalties can apply. It also said that it has recently conducted a series of raids across Australia with the support of the Australian Federal Police as part of a coordinated global crackdown on businesses suspected of supplying and using ESSTs. The ATO also noted that ESSTs come in a variety of forms, including: an external device connected to a point of sale (POS) system; software installed into a POS system; a feature or modification built into a POS system; and a service provided by a third party.
