Check your governing documents before 31 March

On 03/02/2025, the Australian Taxation Office (ATO) issued an update regarding Check your governing documents before 31 March. Reviewing governing documents ensures a smooth lodging of NFP self-review returns and confirms entitlement to income tax exemption. Governing documents set out purpose, character, and governance structure, with necessary clauses preventing profit distribution or asset transfer for private benefit, as per the ATO's guidelines.