Changes in reporting requirements for not-for-profits

From the end of this 2023-2024 (current) income year, all non-charitable not-for-profits (NFPs) with an active ABN will need to lodge a self-review annual return.

This change has been made by the Federal Government to ensure that only eligible NFPs receive an income tax exemption.

NFP’s that are eligible for tax exemption (and exempt from the reporting requirements) are Government entities or charities registered with the Australian Charities and Not-for-profits Commission (ACNC).

Broadly speaking, all other NFP’s will be required to conduct the self-review annual return for the 2023-2024 income year. This can be done using ATO online services. (Please note this process is not available yet, and will be launched closer to lodgment time.)

Once the self-review annual return is completed, you will receive a notification on the status of eligibility for tax exemption.

The first self-review annual return is required to be lodged between 1 July 2024 and 31 October 2024.

If you would like assistance with the process or have questions about your NFP’s eligibility, please feel free to contact us.

Changes in reporting requirements for not-for-profits | Australian Taxation Office (ato.gov.au)