Non-charitable not-for-profit (NFP) organisations holding an active Australian Business Number (ABN) will soon be required to lodge an annual NFP return to self-assess their income tax exemption status. This lodgement requirement will commence from the 2023–24 income year with a due date of 31 October 2024.
Your adviser from Kidmans Partners will be in touch with further details on these requirements if it relates to your organisation.
You can also visit the ATO website to see the NFP self-review return questions that you will need to answer while awaiting the availability of the return on 1 July 2024:Reporting requirements