The exposure draft standardises the definition of ‘not-for-profit’ across the federal tax legislation and legislation relating to regulations by the Australian Charities and Not-For-Profits Commission.
In the exposure draft, a ‘not-for-profit’ entity is defined as an entity that:
Third Sector acknowledges the traditional custodians of the lands where we live, learn and work. We pay our respects to Elders past, present and emerging.