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ARTICLE · 21 FEBRUARY 2024

ATO publishes guide for NFP self-review returns

Cooper Grace Ward
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NFP entities with an active ABN that self-assess as income tax exempt are now required to lodge a self-review return.

AustraliaTax
Carly Ashwood
Carly Ashwood
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As of 1 July 2023, not-for-profit (NFP) entities with an active Australian Business Number that self-assess as income tax exempt are required to lodge a self-review return, starting with the 2023-24 income year.

We previously reported on this change in May 2023 and urged NFPs to review their activities and the basis for their self‑assessment and to prepare for the new reporting requirement.

The Australian Taxation Office (ATO) has released a guide for completing an NFP self-review return, allowing NFPs to begin an early review of their eligibility for income tax exemption in preparation for when the self-review return becomes available.

The self-review return will be available from 1 July to 31 October 2024. NFPs and authorised tax agents will be able to access the self-review return from the ATO's online services for business and online services for agents, respectively.

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