KPMG tax professionals submitted a document with comments, generally supporting the core features of the legislation, but made some recommendations.
New legislation introduced July 2, 2024, proposes a food donation tax offset for companies incurring expenses related to food donation activities for registered food charities. The Senate Economics Legislation Committee is set to report on the bill by November 15, 2024, with submissions of comments due by August 20, 2024. Read TaxNewsFlash
In response, KPMG tax professionals submitted a document with comments, generally supporting the core features of the legislation, but recommending the following:
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