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 341 defines 'application of income' for registered non-profits, adds deemed-application and capital gains rules in Act</h1> Clause 341 in the Bill and the enacted Act both define 'application of income' for registered non-profits, allowing payments for registered charitable/religious purposes (subject to payment timing and allowability under cross-referenced tax provisions), treating donations to other registered entities at 85% while treating corpus donations as nil, and permitting reinvestment/loan repayment as application if made within five years and meeting compliance conditions. The Act adds a deemed-application mechanism tied to an 85% regular-income target and detailed capital-gains-as-application rules, which are absent from the Bill, creating greater procedural obligations and clarity in the Act.
TaxTMI 
TaxTMI 