Taxable non-profit organisations
Not all non-profit organisations are exempt from income tax. If a non-profit organisation must lodge a tax return, it is also affected by the TFN rules.
Generally, taxable non-profit organisations only need to lodge a tax return and pay tax if their taxable income exceeds $416 in any one financial year.
If a non-profit organisation will have a taxable income of $416 or less, it may claim an exemption from quoting a TFN or ABN. It should tell its investment bodies that it does not have to lodge a tax return because it is a non-profit organisation with an annual taxable income below the lodgment threshold amount.
If a non-profit organisation will have a taxable income of more than $416, an amount will be withheld from its investment income where it earns $120 or more a year if no TFN or ABN is quoted.
Anyone eligible to represent a non-profit organisation can quote its TFN or ABN, or claim an exemption.
Find out more
If you need more information about TFNs, see Tax file numbers.
If you need more information about ABNs, see Australian business number (ABN).
Last modified: 16 Mar 2015QC 16808