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ATO Releases New NFP Tax Documents


Thursday, 9th January 2014 at 9:36 am
Staff Reporter, Journalist
The Australian Tax Office has released a raft of new and updated documents explaining charity tax obligations and the relationship with the charity regulator the Australian Charities and Not-for-profits Commission.

Thursday, 9th January 2014
at 9:36 am
Staff Reporter, Journalist


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ATO Releases New NFP Tax Documents
Thursday, 9th January 2014 at 9:36 am

The Australian Tax Office has released a raft of new and updated documents explaining charity tax obligations and the relationship with the charity regulator the Australian Charities and Not-for-profits Commission.

The documents cover tax basics for Not for Profits, and the endorsement and DGR status for charities once they are registered with the ACNC.

The documents are:

Applying for endorsement

When starting out as a Not for Profit organisation, the ATO points to some key things to do to ensure an organisation complies with any tax obligations.

Deductible gift recipients

An overview of tax deductible gifts and the tax treatment of various fundraising activities, including the concessions available. Also covers state, territory and local government requirements in relation to fundraising.

Does a Not for profit organisation have to pay income tax?

This factsheet explains the steps for working out the income tax status of an organisation.

Endorsement

An overview of tax deductible gifts and the tax treatment of various fundraising activities, including the concessions available. It also covers state, territory and local government requirements in relation to fundraising.

Endorsement requirements

When starting out as a Not for Profit organisation, there are some key things to do to ensure an organisation complies with any tax obligations.

Endorsement requirements for charities and income tax exempt funds – Tax basics for Not for Profit organisations

This document outlines the endorsement requirements that apply to charities. Charities must be endorsed by the ATO in order to access income tax, fringe benefits tax (FBT) and goods and service tax (GST) charity tax concessions.

FBT – Tax basics for Not for Profit organisations

Introduction to FBT for Not for Profit organisations. Explains what FBT is, includes examples of fringe benefits and explains concessions available to certain organisations.

GST concessions  – Tax basics for Not for Profit organisations

Provides an overview of the GST concessions for charities, gift deductible entities and government schools.

How do you work out if an organisation is exempt?

A checklist to help your organisation determine if it is a Not for Profit organisation and outlines the tax concessions and endorsement requirements.

Income tax

Key points to ensure an organisation complies with any tax obligations.

Income tax exemption – Tax basics for Not for Profit organisations

Provides an overview of income tax exemption for Not for Profit organisations

List of definitions

Definitions of terms used in Tax basics for Not for Profit organisations .

As well there is an overview of tax deductible gifts and the tax treatment of various fundraising activities, including the concessions available. Also covers state, territory and local government requirements in relation to fundraising.

Proving eligibility for supplier discounts

A number of commercial suppliers offer discounts to NFP organisations. Suppliers sometimes ask NFPs to provide proof of their tax status to qualify for a discount.

Refunds of franking credits

Explains which Not for Profit organisations may receive refunds of franking credits.

Registered charities

An overview of tax deductible gifts and the tax treatment of various fundraising activities, including the concessions available. Also covers state, territory and local government requirements in relation to fundraising.

Registering your organisation

In order to access various concessions and comply with a Not for Profit organisation's tax obligations, it may need to register for an ABN, GST, FBT and PAYG withholding. This document explains when to register for these taxes and how to do so.

Reviewing NFP endorsement

An overview of tax deductible gifts and the tax treatment of various fundraising activities, including the concessions available. Also covers state, territory and local government requirements in relation to fundraising.

Tax concessions – an overview

Provides a general overview of tax concessions available to Not for Profit organisations.


Staff Reporter  |  Journalist |  @ProBonoNews


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