FINANCE/TAX
Does your organisation have to pay income tax?

The Australian Tax Office has released a handy new fact sheet designed to assist organisations in working out their income tax status.

The fact sheet - Does Your Organisation Have to Pay Income Tax? - outlines the various rules and exemptions which apply to groups in the sector. It then works through several key points to help you determine if your group is income tax-exempt, asking questions about your non-profit and charitable status such as:

• What to do if your organisation is a charity;
• What to do if your group isn't a charity but meets exemption guidelines; and
• How it will be treated for tax purposes if your group isn't eligible for exemption.

 

Link to: Does your organisation have to pay income tax?