TR2014/D5 ‰ÛÒ income tax: special conditions for various entities whose ordinary and statutory income is exempt

The ATO has issued a final ruling on two new conditions for not-for-profit organisations to meet to qualify for an income tax exemption.

Basically an organisation has to comply with all of the substantive requirements in its governing rules and it also needs to apply its income and assets solely for the purposes for which it was established.

For more information please visit here

Let us keep you up-to-date

Subscribe to the NFPAS email newsletter to receive not for profit industry news and special updates.