The ATO website has undergone revisions to inform Not-For-Profits (NFPs), such as sporting clubs, about the necessity of submitting their initial NFP self-review return for the 2023-24 income year. This submission window is set to occur between July 1 and October 31, 2024.

SW Accountants & Advisors article details the designated lodgement period and provides guidance on preparing the self-review. The submission of this self-review return signifies a significant shift in reporting obligations for Not-For-Profit clubs, particularly concerning the maintenance of their income tax-exempt status.

Read on: Sporting Clubs 2024 annual return update – SW Accountants & Advisors (sw-au.com)