Shortcomings in America's Federal Tax Regulatory Regime of Private Foundations: Insights for Australia

Abstract:     
The thesis of this article is that key individuals involved in and responsible for the development of Australia's nonprofit sector, its nonprofit entities - particularly, prescribed private funds, which are similar to America's private foundations - and the innovation of its regulatory federal tax regime should heed America's experience. The insights offered in this article to America's federal tax regulatory scheme, if considered, might help to thwart pitfalls that accompany the development of Australia's laws and regulations. The article may provide nonprofit sector leaders with an awareness of possible negative consequences of perceived abuses of tax incentives and tax induced arrangements.

Keywords: Nonprofit taxation, American, Australian, tax evasion avoidance

Working Paper Series