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06 Dec 2018 Not-for-profit news

NFP podcast has been released 

In February, the ATO launched ‘Tax inVoice’. In each episode industry experts are invited to sit down with the ATO’s senior leaders to talk about the tax topics and issues you want to know about. 

This month’s podcast gives you a general introduction to the tax and super basics of starting a Not-for-profit. 

Ancillary fund webinar recording now available 

The ancillary fund webinar recording from 15 November 2018 is now available from 

The webinar was aimed at helping not-for-profits to understand how ancillary funds are special funds that provide a link between people who want to give (donors) and organisations that can receive tax deductible donations as deductible gift recipients (DGRs). 

The recording is 45 minutes long and includes the question and answer session at the end. 

Taxable organisations 

Not-for-profit clubs, societies and associations that are not exempt are taxable and may have to lodge tax returns and pay income tax. They also have to comply with any capital gains tax or PAYG instalment obligations. Find out more here. 

Mutuality and taxable income 

This guide explains the principle of mutuality and helps not-for-profit clubs, societies and associations calculate their taxable income (NAT 73436). 

Managing donations records 

If your donors are looking for a quick and easy way to manage their gifts and donation records, the ATO’s myDeductions tool (available through the ATO app) can help. 

The tool allows your donors to use their smart device to capture and record photos of receipts. They can also use the tool to record a range of general and employee work-related expenses as well as sole trader income and expenses. 

Find out more here

Not-for-profit Stewardship Group wraps up 2018 with new members 

The final 2018 Not-for-profit Stewardship Group meeting was held in Sydney on 28 November. 

Key achievements for 2018 include: 

  • Agreeing to a view on the special conditions in section 50-50 of the ITAA 1997 which assisted non-ATO members prepare a joint submission to the ACNC Review;
  • Working together to update benchmark market values for supplies of long-term accommodation;
  • Contributing to the draft in Australia and religious practitioner’s rulings;
  • Setting up a working group to look at a suite of issues in relation to not-for-profit tax concession issues and consider potential solutions;
  • Appointing a new non-ATO co-chair and new members. 

Find out more here.


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