NFP annual reporting requirements

The ATO has issued a reminder that not-for-profit entities with an active ABN will need to lodge an annual NFP self-review return from 2023-24. The return can be lodged at any time between 1 July and 31 October 2024 (for those without a tax agent). If a return is not lodged, the NFP may become ineligible for an income tax exemption (and penalties may apply).

There are eight categories of income tax exempt entities that can self-assess eligibility for income tax exemption.

Charities registered with the Australian Charities and Not-for-profits Commission (ACNC) are not required to lodge a return.