Oct 28, 2024 Joel Hernandez
ATO NFP Self-Review Return – Recent updates
Non-charitable not-for-profit organisations that self-assess as income tax exempt are now required to lodge an annual self-review return with the ATO.
If you have started the process and are having trouble completing the annual self-review return, convincing the ATO that you are the authorised contact person, or you are questioning if your organisation is eligible to self-assess under Section 50.5 of the Income Tax Act 1997, do not panic. The ATO has made some recent changes to assist with the preparation and lodgement of the forms.
Lodgement due date – extended
The ATO has announced that the lodgement date for the first self-review returns, originally due by 31 October 2024, will now be extended to 31st March 2025. There is no need to contact the ATO to request this extension.
Appointing an authorised contact – simplified
If your organisation is having trouble identifying or contacting the currently listed authorised contact, the ATO now allows the new authorised contact to notify it of their appointment by completing a paper form – Change of registration details (NAT 2943) and attaching evidence of the approved nomination (for example minutes or a notification from your Board confirming the appointment).
The ATO has advised that it is currently struggling to process the applications within the usual 28 day period due to the large number of forms recently received. The process could take up to 12 weeks. The ATO will contact you once the details have been updated.
Lodging your return using the ATO online services – simplified
If your organisation is unable to access Online services, you can submit your NFP self-review return using the Self-help service on 13 72 26. You will need to quote the reference number on the Annual Self-Review Reporting Obligation Notice that you would have received by mail from the ATO. The ATO is aware that some organisations have not received this initial correspondence and it has advised that it will accept a reference number listed on any letter that your organisation has received from the ATO.
RDL Accountants can lodge your annual NFP self-review return on your behalf through Online services for agents.
If you need to know more, just contact our office.
