Australia: Changes in not-for-profits reporting requirements

A guide on changes in the reporting requirements for not-for-profits

14 November 2023

The Australian Taxation Office (ATO) issued a guide on changes in the reporting requirements for not-for-profits (NFPs).

For the 2023-2024 income year onward, NFPs with an active Australian business number (ABN) will need to lodge a NFP self-review return to access income tax exemption.

According to the ATO, the self-review return will guide NFPs to consider their organisation's purpose and activities against specific requirements of an eligible income tax exempt entity.

Government entities or charities registered with the Australian Charities and Not-for-profits Commission, and taxable NFPs, are not required to lodge an NFP self-review return.

The self-review return can be lodged for the 2023-2024 financial year anytime between 1 July and 31 October 2024.

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