Good governance is part of running a successful organisation. As an NFP, you should check that you are continuing to meet your tax and super obligations on a regular basis, at least every 12 months.
Our new NFP tax, super and registry responsibilities checklist is here to help your NFP stay up to date with tax, super and registry obligations to ensure your organisation can run smoothly. You can find everything in one place to help stay on track and reduce the chances of your organisation being subject to compliance activity or penalties.
It’s good practice to run through this checklist regularly, for example as part of your preparations for your regular board or committee meetings. The checklist can help you identify any action you need to take to keep on top of your obligations. Keeping your ABN authorisations and contact details current will ensure you are informed of any significant tax, super and registry changes for the NFP sector. The checklist is split into the following 7 categories so you can easily identify the information that applies to your NFP:
- Checks all NFPs should be regularly completing.
- Checks for NFPs who self-assess as income tax exempt.
- Checks for taxable NFPs for income tax purposes.
- Checks for NFPs with more than $150,000 in turnover.
- Checks for NFPs employing staff.
- Checks for NFPs who need to make payments to the ATO.
- Checks for Charities registered with the Australian Charities and Not-for-profits Commission (ACNC).
For more information on good governance and keeping your governing documents up to date, visit ato.gov.au/NFPgoodgovernance.