Associations, charities and other not-for-profits need to make money in order to assist them in achieving their objectives. That’s why tax concessions are very important in the association, charity and other not-for-profit space. By accessing the tax concessions available to you, you can boost your financial performance, which in turn gives you the resources needed to employ more people to achieve your business’s objectives.
With a host of concessions available, it’s important to understand exactly what you are entitled to. Discovering that your association or charity may not have to pay certain taxes could make a big difference to your bottom line.
Why participate and benchmark?
It’s important to review your tax concession situation regularly. In our experience, associations, charities and other not-for-profits tend to look at their tax concessions maybe once, then once it’s been set, probably forgotten about. The ATO requires all associations, charities and other not-for-profits to review their status annually or when its objectives or activities change, something we highly recommend so that you can continue to access the relevant concessions.
Also, there may be further concessions that associations may not know they are entitled to and undertaking a review can bring those concessions to their attention.
As a standalone association, charity or other not-for-profit business without any comparisons, the true value of your financial performance can be limited. Benchmarking provides the means to not only help you identify gaps, but also uncover other areas for financial improvement that may exist for your business.
There is no cost associated with the survey. Please take the time to either complete this survey or forward it to the person responsible for your businesses financial information.
We would like to offer those associations, charities and other not-for-profits that participate in this benchmarking survey a complementary feedback of the results–including a business-specific report which compares your organisation’s entitlements and results against the complete group of peer respondents.
We assure you that your response to this brief survey is completely confidential.
How to participate?
This brief survey can be completed here.