Not for Profit and Tax

Not for Profit Organsations and Tax

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A reminder from the Australian Charities and Not-for-profits Commission (ACNC) and the ATO that if your not-for-profit organisation has charitable purposes, it cannot self-assess as income tax exempt.

For your organisation to be eligible for income tax exemption, it may need to register as a charity with the Australian Charities and Not-for-profits Commission (ACNC) and be endorsed by the Australian Taxation Office (ATO).

If your organisation is charitable but does not register as a charity with the ACNC, it will be taxable, as it will not be eligible to self-assess as income tax exempt. If your organisation is a taxable not-for-profit, you may need to lodge an annual income tax return (or notify the ATO if a return is not necessary).

If you have any questions regarding your Not For Profit organisation don’t hesitate to get in touch with us at STS Accounting