Changes made to NFP Self-Review Return

The ATO has made recent changes to the NFP Return. Non-charitable and Non-For-Profit entities who have an active ABN must now lodge an annual self-review return, in order to self-assess their eligibility for tax exemption. These changes will imply to the financial year of 2023/2024. These changes were announced in 2021, however came into effect on the 1 July 2023. A registered agent is also able to lodge the self-review return for their clients.

The Self-Review Return

The self review return will

  1. include questions which are provided now in the current self-review worksheets
  2. guide NFPs to consider their purpose and activities against specific eligibility requirements of an income tax exempt entity
  3. it will not have a lot of questions relating to the financial nature, however will as the NPF of their estimated income for the financial year.

After the Entity has completed that, they will receive a notification summarising their self-review. After the first lodgment, the NFP will be able to confirm or even update their self-review return. If this is not done correctly, then there are penalties that will apply to the NFP.

If you need any assistance in lodging a Self-Review Return or have any questions about it please feel free to contact S & H Tax Accountants. We are a small firm based in Cranbourne as well as Cheltenham. We have an exceptional team, which consists of well-qualified, vastly experienced and extremely professional. Book a consultation today at S & H Accountants, call us at 03 8759 5532 or you can email us on