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Inside Internal Controls

News and discussion on implementing risk management

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Paving the road to hell – donating the proceeds of private company shares and real estate

In its last annual budget, the Federal Government announced that proceeds from the sale of private company shares and real estate would be free from tax if donated to charity. That is pretty much all they said on the subject…

 

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Finance committee report into charitable donation incentives is a disappointment

Several years after hearings into charitable donation incentives were first proposed by Member of Parliament Peter Braid, we finally have the report of the Parliamentary Finance Committee. Unfortunately, it seems that the after years of anticipation the final report is neutered of any real effect because it lacks analysis. Fundamentally, the report is a review of the submissions made by the various witnesses followed by a qualified set of recommendations and even at that is a light read.

 

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