IMPORTANT New reporting requirements for tax-exempt Not-For-Profit entities
As part of the ongoing regulatory updates from the Australian Taxation Office (ATO), we wanted to inform you of an important change that affects Not-for-Profit (NFP) entities.
From this year onward, NFPs are required to report annually to confirm their tax-exempt status. This change ensures that your organisation remains compliant with the ATO and maintains its tax-exempt status.
To assist you in meeting these new requirements, we have outlined the steps needed to comply:
Steps to Complete Your Reporting
- Update your details with the ATO: You will need to update your organisation’s details with the ATO, ensuring that your tax exemption status is correctly reported. We can provide you with the necessary form for this purpose.
- IMPORTANT:
- Item 11 – Ensure Contact is completed, generally this is an associate as well, ensure that as part of Item 16 the contact is listed in your list of associates as well.
- Item 12 – On the form, ensure that at Item 12, you place an “X” in the appropriate boxes for:
- ABN
- GST (if registered)
- Income Tax
- PAYG Withholding (if your organisation pays wages)
- Item 16 – When selecting positions held, also ensure that public officer is selected in addition to your role.
Link your NFP to MyGovID and RAM:
- You must link your organisation’s ABN to your MyGovID via the Relationship Authorisation Manager (RAM). This will allow you to securely access the ATO’s online services.
- If your organisation is not yet linked to MyGovID and RAM, we can guide you through this process.
- Appoint us as your registered agent: We are here to manage your ATO interactions on your behalf, including tax-exemption reporting. Once you’ve linked your NFP to MyGovID, we can be appointed as your agent, and handle all communications with the ATO moving forward.
For your convenience, below are the relevant forms and links to guide you through the process:
We understand that these new requirements may feel complex, but we are here to support you at every step. If you have any questions or would like to schedule a meeting to discuss this further, please do not hesitate to reach out to our team on 07 4669 9800.
