Under the Income Tax Assessment Act 1997 (Cth) a not-for-profit organisation must pay tax on its ‘taxable income’, unless it qualifies for an exemption. Find out if your not for profit organisation could be eligible for income tax exemption, or remains eligible (if already accessing the income tax exemption).
The app will ask you questions about your group and produce assessments as you work your way through. You can use the tailored report to discuss the income tax exemption with your group and advisers (a lawyer or tax accountant).
To view further details and to access the NFPLaw app, click here