Non-Profit & Charity
Accounting for NFP organisations and charities. DGR status, tax exemptions, ACNC compliance, and reporting obligations.
Non-Profit & Charity Accounting
Specialist accounting for not-for-profit organisations and charities, ensuring compliance with ATO NFP requirements and ACNC standards.
NFP Tax Obligations and Exemptions
- Income Tax Exemption: Registered charities and some NFPs are exempt from income tax
- GST Concessions: NFPs may qualify for GST concessions ??? the GST registration threshold is $150,000 (double the business threshold)
- FBT Exemption: NFPs may be eligible for FBT rebate (up to $30,000 grossed-up per FBT year)
- Deductible Gift Recipient (DGR): DGR status allows donors to claim tax deductions for gifts
Our NFP Services
- ACNC Registration: Application for charity registration and ongoing compliance
- DGR Application: Assistance with DGR endorsement applications
- Annual Information Statements: ACNC reporting and annual statement preparation
- Financial Reporting: NFP-specific financial statements and annual reports
- Fund Accounting: Tracking restricted and unrestricted funds, grants, and donations
- GST and BAS: NFP GST concessions and BAS preparation
- FBT Management: Maximising the FBT rebate and managing salary packaging
Compliance Requirements
- Register with ACNC if you are a charity
- Meet governance standards (responsible persons, duties, conflicts of interest)
- Lodge annual information statements with ACNC
- Comply with reporting standards (Tier 1-4 based on size)
- Maintain charitable purpose and not-for-profit classification