Did You Know? Latest Stats on NFP's
29 September 2003 at 1:09 pm
The latest Australian Tax Office figures on Not for Profits offer an interesting insight into Third Sector.
The ATO Compliance program 2003-4 says there are 700,000 NFP organisations, but only 170,000 of them are in the tax system. And 94% of these are companies and the remainder are Trusts.
The combined annual turnover of these organisations in Australia exceeds $27billion!
The 30,000 largest NFP’s employ 8% of the Australian workforce.
And while these organisations pay less than $1billion in tax, their role is significant because they collect around $5billion in tax paid by their employees….