The Government has released another Exposure Draft of legislation to restate and centralise conditions for tax concession entities to ensure entities operate principally within Australia.  The proposed measures would centralise the requirements that income tax exempt entities comply with their governing rules and remain not-for-profit and reinstate the "in Australia" special conditions for income tax exempt entities and deductible gift recipients.

The closing date for submissions on the Exposure Draft is 7 April 2014.

To view the Exposure Draft, draft Regulations and explanatory materials, click here.