Be prepared!
- If you are a not-for-profit Organisation, be prepared for new reporting requirements to maintain your tax-exempt status.
The ATO has announced this change, which is expected to affect a range of Organisations, from small sporting clubs to major sporting groups, cultural, educational and community and health providers.
- From July 1, not-for-profits claiming exempt status will need to fill out an online questionnaire on the tax office website. The questions are based on the rules for each of the eight categories of exemption.
Need help with understanding these requirements! Contact Blackburn Accounting, we can help you navigate the changes.