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5. Key points
- Incorporated associations are subject to taxation unless a relevant tax exemption applies.
- Incorporated associations may be eligible for certain taxation concessions that apply to not-for-profit organisations. The availability of such concessions may require that the association satisfies certain criteria and be endorsed by the ATO.
- Incorporated associations that employ staff are subject to PAYG withholding obligations, and may be subject to paying fringe benefit tax.
- Incorporated associations are required to pay goods and services tax on some goods and services, and they are exempt from others. This is a complex area of taxation and associations should seek professional advice.