21 July 2023
Parliament is considering a change to the charity deregistration tax rules.
When a charity is deregistered and does not re-register within one year, an amendment to the rules would require income tax to be paid on certain net assets if they are not transferred to another registered charity.
This is not law yet. The proposal is in a bill expected to be enacted in March 2024. If approved, it may apply to transfers from 18 May 2023.
You can find more technical information about the bill, The Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill, on our tax policy website.
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Last updated:
21 Jul 2023