The Forum > General Discussion > At what point is a not for profit organization, a business.
At what point is a not for profit organization, a business.
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Posted by rehctub, Tuesday, 13 January 2015 7:50:00 PM
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Good point Rehctub.
We should start with the various religious organizations like the Catholic Church, who is one of the richest organizations on this planet! Posted by Suseonline, Wednesday, 14 January 2015 10:43:15 AM
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Actually identify a particular asset? Is there any individual who actually benifits who does not pay tax?
Posted by Josephus, Wednesday, 14 January 2015 10:56:41 AM
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Aren't those of the Catholic Church required to live by a vow of poverty ? Yet they possess real estate all over the world, worth trillions of dollars ? I'm not condemning their church nor their religion, it's just they may consider perhaps converting some of that real property to better use ? Such as building hospitals, encouraging medical Doctors to practice in the more socioeconomic areas of the world ? I'm sure they'd not miss say 10% of their total wealth ? The same could be said for the Anglicans, another Christian faith with massive real property assets in the western world at least ?
Less talk from the pulpit, more demonstrative actions, with their cheque books ! Is not charity the corner stone of Christianity ? I believe the Church would accumulate many more churchgoer's, if only the Church would substantially increase their financially support for some of the world's poorest people ? Moreover, it would work against much of this evil propaganda circulated by many of these boofheaded Islamic extremists ! Furthermore, don't actions speak louder than words ? Posted by o sung wu, Wednesday, 14 January 2015 12:51:50 PM
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Dear rehctub,
I'm not sure what the rules are for non-profit organisations concerning the accumulation of assets. You might want to contact the Taxation Department. However you ask - at what point is a not for profit organisation considered a business? I guess when they stop qualifying as a charitable organisation. Again certain criteria and rules are set in place- and need to be looked into. Most non-profit organisations are run by a Board of Directors - not personal ownership of the organisation - and other conditions apply - which I suggest you Google. Posted by Foxy, Thursday, 15 January 2015 3:08:53 PM
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cont'd ...
The following link may help: http://www.australia.gov.au/topics/business-and-industry/abn-acn-business-management/non-profit-organisations Posted by Foxy, Thursday, 15 January 2015 3:20:05 PM
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So my question is, should not for profit organisations be allowed to accumulate assets when those assets are purchased with tax free income.