The deadline for lodging the first NFP self-review return is approaching on 31 March 2025. This new requirement applies to non-charitable NFPs with an ABN and aims to ensure only eligible organisations maintain income tax exemption.
To comply, NFPs must confirm their eligibility by reviewing their purpose and activities against specific criteria within one of the eight income tax exempt categories. The return requires basic information, such as the organisation’s details and an estimated gross revenue range.
Lodgement can be done online through Online Services for Business or using the self-help phone service. It is crucial to act promptly to avoid potential penalties and ensure continued compliance with tax obligations. Should you have any queries or require assistance, please contact our office on 07 3863 9444.
The information (including taxation) contained on this website is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. DLA Partners strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.