Be smart about tax and keep your corporation strong

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Your Indigenous corporation delivers important services to your community.

Managing your money well helps keep those services going.

Many corporations find sorting out their tax is not that easy. There is paperwork to do, records to keep and bills to pay. But if you know more about tax, it can mean more money for your corporation and better services for your community.

If you need help with your corporation's tax affairs, we can help.

Some important tax matters you need to know about are things like:

1. Is your organisation non-profit?
2. What are the benefits of being a non-profit organisation?
3. Are you paying tax on funding and grants?
4. Are you paying super to your staff? 

Did you know that your corporation may qualify for special tax concessions if it meets the requirements of a non-profit organisation?

Is your organisation non-profit?

The term 'non-profit organisation' is used by the ATO to describe certain organisations that do not operate for the profit or gain of their members. This means that all profits go back into your corporation's services and are not distributed to any members. This applies while your corporation is operating and through to when it winds up.

There are many types of non-profit organisations including stores, childcare centres, art centres, neighbourhood associations, medical centres and sports clubs.