Business Setup

Non-profit

What is a non-profit?

Not-for-profit organizations are types of organizations whose primary purpose is to provide benefits and service to its members, not to earn profits for its shareholders.

A not-for-profit can make and keep profits as long as it is to used to pursue its purpose, such as to expand its facilities in order to deliver greater benefits and services to a larger number of members.

Nonprofit organisations are tax-exempt. In a nonprofit organization, income is not distributed to the group’s members, directors, or officers

There are different ways you can register as a not-for-profit organisation. Before you register, you should consider what structure best suits your organisation’s purposes.

Registering as a company
Registering as an incorporated association
Creating a registrable Australian body

Registering as a company

Charitable and not-for-profit organisations can be registered as public companies limited by guarantee. This means the liability of the company’s members is limited. The limit is usually the amount members will contribute to the property of the company if it is wound up.

Registration of a company creates a legal entity separate from its members. This means the company can hold property and sue or be sued.

If a public company limited by guarantee subsequently registers with the Australian Charities and Not-for-profits Commission (the ACNC), some of these Corporations Act obligations are turned off.

Registering as an incorporated association

An incorporated association also known as Co-operatives is a legal entity separate from its members. The incorporated association structure can be more effective for small community organisations. They are generally simpler and more affordable than a company structure.

Incorporated associations are registered under state and territory legislation, which is not administered by ASIC. Incorporated associations can only carry on business in the state they’re registered in. For example, if registered in Victoria, they can only conduct business in Victoria. If they want to trade in other states, they need to become a registrable Australian body.

Unincorporated groups

For groups that have decided not to incorporate, the following fact sheet has information about unincorporated associations, including:

  • developing a statement of objectives and rules
  • the risks that may arise for unincorporated groups, and
  • registration as a charity with the Australian Charities and Not-for-profits Commission (ACNC)

How we can help

We can provide you with professional consultations and support for various aspect such as:

  • Registration process
  • Tax concessions
  • Endorsement process
  • Legal structures
  • Financial management

Talk to our friendly team and see how we can help.

Overall Pros and Cons

Pros

  • Tax exemption
  • Limited liability
  • Eligible for grants
  • Working for society

Cons

  • Lack of funds
  • Low pay and loss of tax status
  • Competition for funding
  • Paperwork and administrative costs

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Success stories

ethos-logo

How Wilson & Associates helps us with our profit turn-around and growth strategies – by Dr. Watson, CEO, Ethos Health,13/06/2018

A profit turn-around of almost 300%
20% savings on a tax assessment, coupled with 20% annual savings in tax compliance
A rigorous growth budget with full alignment of strategic objectives with executional strategies in terms of people and marketing.

Wilson & Assoc provides robust planning, rigorous performance management, commercial and strategic advice, and helps drive profit and accelerated growth.

Improve cash flow. Maintain high level of trust and confidence with suppliers, during short cash-tight periods.
First year of engagement (F17) – reduce operating loss by 2/3
Second year (F18) turn-around to profit
Wilson & Assoc Chartered Accountants

What we are about

We are passionate about bringing big company financial capabilities to startups and small businesses without the big costs.

Our mission is to help you create the financial future you want for your business, yourself and your family.

Our business is to help you build wealth, increase cash and profits, and grow amazing business.

What our clients say

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Wilson & Assoc Chartered Accountants has played a key role in our business turn-around, rapid growth and capital raise. They have provided financial structure and rigour to optimise decisions and outcomes of strategy implementation and performance enhancement. They have brought a new level of financial clarity and confidence to our decisions and choices, both strategic and operational.
Dr Trent Watson a
CEO, Ethos Health
Very Happy To have Wilson & Assoc as my Accountant for business and personal maters. Very professional, friendly and most of all he works hard to make sure you get the best outcome with your tax return. as well as giving you the best advice to better your business. Always notifying me with every step when working on any procedures to do with my business. Doesn't matter if you are a big business or small you are treated with the same care and respect and given the same service. I highly recommend their services.
Ana Giusti
Restaurant Owner
Wilson & Assoc Chartered Accountants has been of the greatest help to us personally and as small business owners. Their personal service, ongoing support and advice help to simplify accounting and taxation matters from the day to day through to end of year. And it's all done without a fuss.
Andre Ogle
Printing Business Owner
The service is professional, efficient and reliable and we trust Wilson to get the job done right. But most importantly, it’s so nice to deal with someone that is genuine and cares about the things that are important to us. Thank you for looking after us Wilson.
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My tax return was done very fast and efficient with all the paperwork included, I would definetly reccomend them.
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CLEAN N OUT
Very knowledgeable and professional service. Glad to have finally found a tax accountant that instills confidence.
Dominic See
Finally found an accountant that is courteous and knowledgeable but most importantly efficient with great pricing. He's always willing to look at different avenues to land on a positive outcome for us. We highly recommend his services.
Frank Ribosa
I have recommended my clients to Wilson & Associates and the feedback has been very positive. Specifically that Wilson was professional, courteous and clearly explained complex tax rules in an easy to understand way, without any jargon. If you're looking for a great a tax agent and accountant, definitely contact Wilson & Associates.
Jason He
Wilson is very professional and had helped me resolved my complex issue with the tax office. I highly recommend him.
Kevin Yeo

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