Prior to establishing Daynes, Wayne worked closely with a number of charities and not-for-profit organisations over many years to assist them with meeting their taxation obligations.
Some of the matters dealt with include reviewing income tax exempt endorsement; applying for tax concession charity endorsement ; deductible gift recipient endorsement; applying to state revenue authorities for exemption from payroll tax obligations and the preparation and lodgement or review of fringe benefits tax returns.
A special problem faced by some charities and not-for-profits that undertake “commercial activities” is that those activities can give rise to income tax and in particular payroll tax obligations where those activities are not integral to the core charitable activities. These tax obligations need to be evaluated and managed. Charities that are undertaking commercial activities would be well advised to seek independent advice on those activities to determine if there are tax implications and how to minimise or eliminate the impact of those implications.