A new tax guide for NFPs
August 23, 2011
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The guide provides an overview of tax obligations and concessions for not-for-profit (NFP) organisations and helps to identify which taxes affect organisations, including income tax, fringe benefits tax (FBT), goods and services tax (GST) and pay as you go (PAYG).
Changes to the guide include:
- A new diagram showing the relationship between the types of NFP organisations
- Additional information on salary sacrifice and gifts made to deductible gift recipients (DGRs)
- Information on record keeping requirements for DGRs
- Additional information on reporting and paying tax, including lodging annual income tax returns
- Updates to tax policy.
