Update of reforms and compliance being introduced for all NFP organisations
From 1 July 2024, not-for-profits (other than charities) and not-for-profits with an active Australian Business Number (ABN) will be required to lodge an annual self-reviews to access an income tax redemption. If a return is not lodged, not-for-profits may become ineligible for an income tax exemption, and penalties may apply.
This session will also discuss the latest reforms within the ACNC, including third-party transactions which include:
- What are your tax obligations for 2024? Find out if you will lose your tax-exempt status
- Do we need to lodge a self - assessment from 2024? What steps do we need to take?
- A registered charity? What is the reporting requirements for third party transactions?
- How do we maintain our DGR status?
- How easy it for my association to become a registered charity? What are the benefits?
Jennifer Moltisanti - Assistant Commissioner Australian Taxation Office
Jennifer Moltisanti is an ATO Assistant Commissioner heading up the NFP Centre and Government Relations teams. Jennifer’s focus is directed at strengthening the integrity of tax administration for not-for-profits and Government clients. She works closely with clients and intermediaries to understand how the sector can be best supported to get tax obligations right, both now and into the future.
Prior to her appointment in the ATO, Jennifer was a senior manager with the Australian Customs Service. Jennifer holds a Master of Business Administration from the Melbourne Business School and a Bachelor of Arts from La Trobe University.
Jennifer has a broad experience in public sector administration and has held a diplomatic role with Australia’s permanent delegation to the OECD as Australia’s first Minister-Counsellor Taxation. Jennifer is consistently drawn to delivering for the public good and increasingly for those most vulnerable in the community. Jennifer’s passion for lending voice to key issues that support sustainable generational change is exampled in her recent appointment as the ATO’s Diversity Champion for Aboriginal and Torres Strait Islanders.
Sallyann Stonier - ACNC
Sally was part of the taskforce set up to establish the ACNC in 2012 and has been responsible for managing the ACNC Registration Team ever since.
She has worked with international charity regulators, including the New Zealand Charities Commission and the Charity Commission of England and Wales for a few years.
Sally has extensive experience in the charity and not-for-profit sector in both the UK and USA. Sally has been CEO for charities providing support for the homeless, individuals with mental ill health and drug and alcohol misuse. She has held senior roles with Home-Start UK (an organization working with vulnerable families) and Odyssey House in the USA. She has served on the board of several schools and various other community groups.
She has experience in charity law, strategic planning, human resources, project management and service development.