Not-for-profit

Non-charitable not-for-profits self-review return guide

Accounting / By

As part of the 2021-22 federal budget, the Australian Government announced reforms to the administration of not-for-profit (NFP) entities that self-assess as income tax exempt. The measure is designed to enhance trust and confidence in the sector by ensuring only eligible NFPs access income tax exemptions, and that NFPs operate on a level playing field. […]

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Not-for-profits – enhancing the transparency of income tax exemptions

Accounting, Taxation / By

The ATO has published details of reforms to the administration of not-for-profit (NFP) entities that self-assess as income tax exempt. Information from the ATO website is outlined below:   Not for profit reforms On 11 May 2021, as part of the 2021–22 federal Budget, the Australian Government announced reforms to the administration of not-for-profit (NFP) entities

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