- Who is this guide for
- Lodgment rules and tax rates
- Taxable income and mutuality
- Classifying revenue
- Classifying expenses
- Separating apportionable items
- Other issues
- Calculating taxable income
This guide has been prepared for not-for-profit (NFP) clubs, societies and associations that are taxable – that is, NFP organisations that are not exempt from income tax.
It helps these organisations to:
- work out if they need to lodge an annual income tax return
- calculate their taxable income, including how to treat mutual dealings with their members.
What's new
This guide applies from 1 July 2015 and replaces Mutuality and taxable income (NAT 73436-06.2010) which was released in June 2010. It has been updated to include the law change to the tax rates for not-for-profit companies which occurred since the last edition of the guide.
See also:
Below is a list of rulings that are referred to throughout this guide:
- GSTR 2002/3 Goods and services tax: prizes
- TR 97/11 Income tax: am I carrying on a business of primary production?
- TR 2004/5 Income tax: taxation treatment of volume rebates paid to a retailer association