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SW has been helping clients lodge their NFP self-review returns and share useful tips and insights about the process.
Not-for-profits (NFPs) self-review return is currently available on the Online Services section of the ATO website for the 2023-24 income year. While the ATO has granted a lodgement extension to the 31 March 2025, NFPs and sporting clubs must be prepared.
SW Accountants & Advisors are currently assisting their clients in lodging their NFP self-review returns and examining their tax-exempt status. We have some tips and insights from our experience with the process.
SW’s tips & insights
We have been helping clients lodge their NFP self-review returns and would like to share some of our initial tips and insights:
NFPs need to be able to access the ATO Business Portal to lodge themselves. If your BAS is currently lodged by a BAS Agent they will not have access to the NFP self-review return on the ATO BAS Agent portal. Only Tax Agents can access the NFP self-review return for their clients through the ATO Tax Agent portal. NFPs will have to appoint a Tax Agent if they require assistance in lodging the NFP self-review return.
If the NFP has never applied for a substituted accounting period for income tax the NFP’s year-end will be 30 June so the NFP self-review return will be due 31 March 2025
The questions on the NFP self-review return are relatively straight forward to answer but you will need to make sure that you have reviewed the NFPs governing documents to answer some questions.
Who is required to lodge?
Only self-assessing income tax exempt entities (e.g. sporting clubs) with an active ABN are required to lodge a NFP self-review return under the new self-assessing reporting arrangements. For those clubs applying the principles of mutuality as to their income tax obligations, there is no change to existing income tax return lodgement processes.
Entities that do not hold an active ABN, will not be required to lodge a NFP self-review return or satisfy ongoing ABN registration requirements.
Are there additional obligations?
Should the NFP determine that they are not tax exempt through this process, there are two additional obligations:
It is intended that the return for self-assessing income tax exempt entities will collect the information required to satisfy the new ABN requirements, without the need for these entities to provide further information.
Get in touch with SW
We can assist in your preparation for the new online return. To discuss your broader eligibility for income tax exempt status, please contact our tax and Tourism, Hospitality and Gaming (THG) industry experts.
Contacts
Stephen O’Flynn, Tax Director
Tim Stillwell, Chair of THG industry Group & Director
If you would like to see view previous articles use the search function below
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In FY25, Victorian Keno players enjoyed almost 10 million wins worth more than $131.9 million.
For many club patrons across Victoria, FY25 was a year to remember – all thanks to a life-changing Keno win.
Victorian players had a standout year, tallying over 9.9 million Keno wins collectively worth than $131.9 million in prize money.
In FY25, Keno players across the eastern states of mainland Australia celebrated more than 76 million wins collectively worth more than $1.2 billion.
During this time, Keno crowned 20 millionaires and multi-millionaires who together took home more than $57.9 million. Two of these major jackpot winners were from Victoria.
Laverton woman thanks ‘manifestation magic’ for Keno win
A Laverton woman shared she was left thanking the universe after she scored a $60,000 Keno Classic 8 Spot prize at Club Laverton in the weeks leading up to last Christmas.
“It was a big surprise! Especially coming up to Christmas, it’s perfect!” she cheered.
“Do you want to hear something really funny? I just wrote in my diary the day before winning, ‘Thank you, universe, for my Keno 8 Spot win’. Then it really came true!
“I’m a firm believer in the law of attraction and manifestation, and I love affirmations!
“It was awesome seeing all eight numbers pop up on the screen.
“I’ve had a few wins in Keno over the years. It’s like the stars align for me when I play - it’s my thing!”
Club Laverton manager Gus Alimovski said the team happily shared in the excitement with their major Keno winner.
“What an incredible win for our patron! It’s always great hearing these winning stories, and now we have another one to share with our patrons,” he said.
“We’re thrilled for our customer, and we hope to see more Keno winners in our venue soon.”
All eyes on a winning FY26
Keno’s National Partner Manager Luke Harrison said he couldn’t wait to see which Victorian clubs welcomed the next big Keno winners.
“Last financial year, players at Victorian clubs celebrated some impressive victories,” he said.
“A key highlight has been the growing popularity of Keno’s Bonus and Replay features among club patrons. This trend reflects how venues are successfully connecting with their customers, sharing updates on jackpot increases, promotional offers, and game enhancements.
“When players opt into Keno Bonus, they unlock the chance to multiply their winnings by up to ten times, while the Replay option adds another layer of excitement.
“Many players are still unaware of these features, making it vital for staff to start conversations and educate them on the full range of Keno possibilities!”
Mr Harrison said the solid Keno performance at Victorian clubs last financial year laid a strong foundation for continued success in FY26.
“Clubs across Victoria are embracing fresh approaches to elevate the customer experience, and Keno’s rising popularity is playing a key role in that journey,” he said.
“There’s also a wide array of Keno resources available to clubs, from eye-catching point-of-sale materials to engaging promotions, all designed to keep the game front and centre.
“As the new financial year unfolds, Keno is looking forward to celebrating more big wins for Victorian club patrons, and more success stories for the clubs that host them.”
Contact your Business Development Manager to find out how Keno can best support your club in FY26.
Visit Keno Connect for more information on maximising Keno in your club - www.kenoconnect.com.au
