Enhancing the transparency of income tax exemptions for not-for-profits

In the 2021-22 Budget the Government announced changes to the administration of NFPs that self-assess as income tax exempt. From 1 July 2023, NFPs with an active ABN will submit an online annual self-review form with the information they ordinarily use to self-assess their eligibility for the exemption. The ATO will work closely with the sector in the implementation of this measure.

Previous
Previous

Ancillary funds : reminder of guideline changes due to COVID

Next
Next

How to Apply the Superannuation Guarantee Rate Rise