All charities that register with the ACNC can apply for these tax concessions.
Income tax exemptions and franking credits
Income tax applies to any taxable income received by organisations. All charities registered with the ACNC can apply for income tax exemption (which, if endorsed, means they do not have to pay income tax).
Charities that are endorsed by the ATO as exempt from income tax may also be eligible to receive refunds on franking credits. This applies if your charity holds shares in a company that provides franked dividends. The ATO provides more information about accessing refunds on franking credits.
Goods and services tax concessions
Goods and services tax (GST) is a tax on transactions. Where goods and services are sold, the amount received for the sale may be subject to GST. Similarly, where goods and services are purchased, the purchaser may be able to claim a GST credit for the GST included in the amount paid. Registered charities can apply for GST concessions.
Fringe benefits tax rebates
Fringe benefits tax (FBT) is a tax paid on any benefits that an employer provides to their employees outside of their salary or their superannuation. Such benefits may include the use of a work car, a work phone, or other expense-related benefits. Registered charities can apply for an FBT rebate.