TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 337 tightens taxable triggers for non-profit specified income; Section 350 expands deposits, narrows directed-donation exemptions, raises compliance risks</h1> Clause 337 enumerates events that convert otherwise exempt receipts of registered non-profit organisations into taxable 'specified income,' including anonymous donations above prescribed thresholds, income applied for related persons, improper foreign application or investments/deposits contrary to section 350, misuse or non-application of accumulated income or corpus, and assessor-determined excess business income. The passed Act broadens exemptions for certain charitable-religious entities but narrows some directed-donation exceptions, explicitly captures deposits as well as investments, and adds new triggers (e.g., retained non-specified assets, deemed applications not effected), increasing compliance and recordkeeping risks.
TaxTMI 
TaxTMI 