On 11 May 2021, as part of the 2021–22 federal Budget, the Australian Government announced reforms to the administration of not-for-profit (NFP) entities that self-assess as income tax exempt.
From the 1 July 2023, not-for-profits with an active Australian business number will be required to lodge an annual self review return in order to access an income tax exemption. In subsequent years, NFPs will confirm or amend information provided to them on a pre-filled self-review return. If a return is not lodged, they may become ineligible for an income tax exemption and penalties may apply under the ATO’s penalty framework.
Your organisation can be reviewed by the ATO, and if the ATO does not agree with your assessment, you may need to pay back tax for the period that you wrongly self-assessed. Interest and penalties may also apply. If you are uncertain about the status of your organisation, you can seek a private binding ruling from the ATO on your organisation’s tax exempt status.
|
|
Late last year, changes were made to the Australian Charities and Not-for-Profits Commission Regulation 2013 (ACNC Regulations).These changes will take effect from the 2022 Annual Information Statement (AIS) reporting period. For the majority of entities, this will be for financial reporting periods ending 30 June 2022.
|
|
|
The TAS Sydney office has moved! We are now at Suite 5.02, Level 5, 655 Pacific Highway, St Leonards, NSW.
The new premise is a few blocks from our previous address and reflect our growth and new corporate structure.
|
|
The TAS Events Team have recently delivered the Australia New Zealand Leadership Forum (ANZLF) which brings business and government together to help Australia and New Zealand prosper.
The team managed to deliver a highly successful event all whilst adhering to tight security, building sweeps and strict government protocols that come with hosting The Hon Anthony Albanese MP, Prime Minister of Australia and The Rt Hon Jacinda Ardern MP, Prime Minister of New Zealand. Read More...
|
|
|
In May the TAS Events Team delivered the RTAA Field Day with Official partner Sydney Trains. This unique event is the largest outdoor rail exhibition in the southern hemisphere and included an extensive bump in as heavy machinery was carefully brought into a working rail yard. The event was free to attend for the general public and saw over 1,000 attendees view presentations, live demonstrations and heavy rail equipment insitu.
|
|
|
TAS is pleased to welcome the following clients and new projects,
- Association of Corporate Council Australia - Conference Sponsorship Sales and Management
- Australian Mushroom Growers Association - Conference Management
- Australian Society of Intellectual Disability - Virtual Conference Management
- Copyright Society of Australia - Association Management
- Cemeteries & Crematoria Association of NSW - Association and Conference Management
- Australasian Society of Psychological Medicine - CEO Recruitment
- Institute of Australian Geographers - Conference Management
- Victorian Rail Institute - Association Management
- Australian Association for Adolescent Health - Conference Management
- Transport Heritage NSW - Board Meeting Management
|
|
|
|