Taxation, Facilitation the Mission & Deductible Gift Recipients (DGR) ofQueensland University of Technology - Report Writing Assessment Answers

November 29, 2017
Author : Julia Miles

Solution Code: 1HGE

Question: Report Writing

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Need to write a report ofTaxation , Facilitation the Mission and Deductible gift recipients (DGR) ofQueensland University of Technology (QUT).

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Facilitation - The Mission Statement

The vision, mission and goals of QUT’s various endeavours have always been to make life easy by providing outstanding learning environments for students by making them capable to face the diverse and complex world. Research is also undertaken to facilitate development in identified areas and is of the highest calibre aiming at significant commercial and practical benefits for the society and community. The partnerships are entered into with an aim to reflect the civic responsibility of facilitation. ("QUT | QUT's Vision and Goals | Jobs at QUT", 2016)

The university visualizesa safer world where harm is unacceptable and aims to make an international impact on transport and other occupational areas for achieving community safety through research, education and advocacy. As a part of its facilitation drive ; the university thrives for the provision of a supportive environment so as to attract and retain high-quality human resources and students and also thrives to engage with clients in an ethical manner so as to nurture an intellectual climate in order to promote innovation, and creativity. All practices whether financial or otherwise are done with an aim to ensure alignment with facilitation. ("QUT | CARRS-Q | Our Vision, Mission and Key Outcomes", 2016)


Deductible gift recipients (DGR) received from ATO

The university operates funds/institutions that have been specifically recognized for the purpose of the DGR. Any gift made to these fund or institutions is allowed as a deduction. The funds specifically recognized for the purpose are QLD University of Technology Art Museum since 17th March 2006 and QLD University of Technology Library Services since 15th March 2006. ("Current details for ABN 83 791 724 622 | ABN Lookup", 2016)

The Australian income tax law has specifically listed the funds and institutions that it recognizes as DGR and QUT is identified as such under Items 1 and 4 of Section 30-15ITAA 1997 table. Item 1mentions the lists of funds and institutions that include universities, public hospitals, overseas aid funds and public museums while Item 4 lists funds and institutions that are eligible recipients of donations of property under the Cultural Gifts Program prevalent in Australia. QUT is not covered under Item 2dealing with ancillary funds that have been set up solely for the provision of monetary property and other benefits. The gift ought to have been voluntarily made by the donor and ought not to be accompanied by any material benefit or return. Also the gift ought to have been the result of benefaction and its proceeds detached from the personal interest of the donor. Where a return is made to the donor by QUT which qualifies as a supply under GST, detailed analysis of the nature of the transaction may be required. ("Deductible Gift Recipient (DGR) | ABN Lookup", 2016)

Taxation system of QUT

QUT or the Queensland University of Technology is registered under GST from 1st July 2000 and with theAustralian Charities and Not-for-profits Commission (ACNC) from 3rd December 2012. It is entitled to GST and Income tax concession since 1st July 2005 and 1st July 2000 respectively. QUT is an eligible entity registered as a deductible gift recipient (DGR) under federal government legislation -. The university is also endorsed under Subdivision 30-BA of theITAA 1997 by the Australian Tax Office (ATO) as an income tax concession charity (TCC). It issues a receipt for a gift made to it for tax deduction purposes.

("Tax benefits of your gift to QUT", 2016) The research centres based at QUT are exempt from the GST tax law. ("QUT - MOPP - G/7.1 Goods and Services Tax (GST)", 2016)

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