FAQs: Not-for-profit self-review return

Commencing from the 2024 financial year, entities that self assess themselves to be a not-for-profit entity eligible for tax exempt status are required to lodge a not-for-profit self-review return by 31 October 2024.

Who is required to lodge a not-for-profit self-review return?

All not-for-profit entities that are not registered charities are required to lodge the return. This would include sporting clubs, community service organisations, business associations and cultural organisations.

Who is not required to lodge a not-for-profit self-review return?

Taxpaying entities and not-for-profit entities that are registered charities (registered with the ACNC) are not required to lodge a not-for-profit self-review return.

How is the not-for-profit self-review return lodged?

The not-for-profit self-review return is lodged through the ATO portal. Thus, a not-for-profit will be required to register for ATO online services themselves or appoint a tax agent to lodge the return on their behalf.

What kind of information is required to be disclosed in the not-for-profit annual return?

The not-for-profit is required to disclose certain aspects of its operations and eligibility for tax exempt status.

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About the author

Tim Olynyk

Tim Olynyk

Tim Olynyk is a Tax Advisory Partner with close to 30 years of specialist experience advising private family groups and professional services firms on complex tax matters. His edge lies in finding smarter structuring solutions, ensuring every transaction is approached with the right tax strategy from the outset.
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