March 26th, 2020
The ATO and ACNC are hosting a free webinar for charities and not-for-profits on Monday 30 March, 12pm AEST to provide detail about the Government stimulus measures that affect the sector, as well as issues that are affecting charity operations during this crisis.
You can register for this webinar here.
Legislation has been enacted to provide temporary cash flow support to eligible NFPs during the economic downturn associated with COVID-19.
This will be done through two sets of cash flow boosts delivered from 21 April 2020.
Eligible NFPs will receive tax-free cash flow boosts of between $20,000 and $100,00 delivered through credits in the activity statement systems when they lodge their activity statements.
Your NFP will be eligible if you:
Charities registered with the ACNC are eligible, regardless of whether they held an active ABN, if they met the other eligibility requirements.
You do not need to apply for the cash flow boost. All you must do it lodge your activity statements. The cash flow boost will be automatically credited to your account.
For more detail please refer to this guidance from the ATO.
Due to the ongoing COVID-19 crisis the ACNC has granted an extension to the due date of the 2019 Annual Information Statement to 31 August 2020.