Non-Profit News Service No. 0342 - Self-governance checklist for non-profit organisations is now available
A new checklist for non-profit organisations is now available on the ATO website to support your governance approach to tax and superannuation affairs.
The Self-governance checklist for non-profit organisations helps you review your organisation's status as a non-profit organisation and also encourages you to review your organisation's tax obligations.
The Commissioner of Taxation, Michael D'Ascenzo said the ATO is always looking for innovative ways of providing help and assistance to the non-profit community.
'The checklist encourages charities and other non-profit organisations to review their continued entitlement to tax concessions and to help them meet their tax and super obligations', Mr D'Ascenzo said.
Non-profit organisations need to manage risks to their performance and reputation, so it is important to have a robust governance and tax risk management framework in place.
The checklist helps you to identify, assess and avoid material tax and super risks and helps your organisation maintain high standards of compliance. By providing the completed checklist to your board, committee or trustee, you ensure they are better informed about the tax and super risks of your organisation.
'The governance focus of the checklist will also enhance voluntary compliance and contribute to community confidence that tax concessions within the non-profit sector are being used as intended for the benefit of the community', Mr D'Ascenzo said.
As part of the product development process, non-profit organisations from across the sector were invited to participate in the co-design of the checklist. A range of organisations were consulted to ensure the feedback and views received were representative of the broader non-profit sector. We previously advised of the consultation process in Non-Profit News Service No. 0305 - Participate in the design of a non-profit governance product.