• ### Lodgment rules

#### Not-for-profit companies

Not-for-profit companies that are Australian residents have a taxable threshold. If the taxable income of a not-for-profit company in an income year is below the threshold of \$416 per year, it is not required to lodge a tax return for that year.

Taxable income is rounded down to the nearest dollar – that is, cents are ignored.

Table: Not-for-profit company lodgment rules

Taxable income

Is the company required to lodge a return?

0 – \$416

No.

However, we may notify a particular company that it is required to lodge a return.

\$417 and above

Yes.

Example: Rounding down to nearest dollar

An organisation's taxable income is \$416.73. It reports its taxable income as \$416.

End of example

We explain how to calculate taxable income in Taxable income and mutuality.

#### Other taxable companies

Other taxable companies are taxed on every dollar of taxable income. They must lodge an income tax return each year.

#### Company tax return

Not-for-profit companies and other taxable companies use the company tax return to lodge a return.

To know how to complete the company tax return, see Guide to company tax return for not-for-profit organisations.