As reported by Wealth Editor, James Kirby, the tabled reforms include “efforts to tighten up rules around tax-deductible charities, especially money spent on environmental lobbying, along with possible attempts to reveal the identity of anonymous donations to a range of causes”. The strongest views on the reforms have come from wealthy philanthropists on one side – who oppose the majority of proposed changes - and the mining industry on the other.
Advocating on behalf of high net worth private clients and philanthropists, as well as charitable organisations, ABL’s submission “has come out heavily against the bulk of the potential reforms on so-called deductible gift recipients”.
ABL Partner Peter Seidel, head of the public interest law practice, says the reforms “would be a backward step for charities in this country and the right of donors to privacy is considered a very important issue by many philanthropists”.
Click here to read the full article in The Australian.