ATO Releases New NFP Tax Documents
9 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.
