NFPs: It’s Time to Complete Your Self-Review Return
The 31 October deadline for lodging your Not-for-Profit (NFP) self-review return is fast approaching. Staying on top of it keeps your organisation compliant, transparent, and stress-free.
The ATO Self Review Return allows taxpayers to check their lodged tax returns for errors or missed deductions and request amendments if needed. Completing a self-review helps ensure accuracy, maximises entitlements and reduces the risk of penalties or interest for underpaid tax.
Here’s how to take action:
- Review your tax position
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- Use the self-review return guide to confirm eligibility for income tax exemption.
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- Check your super and registry responsibilities with the NFP tax super and registry responsibilities checklist.
- Get your details ready
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- Ensure your ABN, purpose, and governing documents are up to date.
- Lodge on time
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- Don’t leave it to the last minute. The deadline is 31 October.
Additional tips:
- If all your organisation’s purposes are charitable, you should register with the ACNC as a charity.
- If you don’t qualify for exemptions, you must lodge an income tax return.
- Check your constitution to ensure operations align with your listed purposes.
- If you don’t have a constitution or it’s missing clauses prohibiting distributions to members, you have until 30 June 2026 to update it.
- If you lodged the 2024 self-review return before 30 June 2025, your 2025 return will be pre-populated and quick to complete.
Tax matters can be tricky, especially when your focus is on running a NFP and supporting your community. We can guide you through your self-review return and make compliance simple. Contact us today to find out how we can help you.
