Calculating tax liability/credit

 

Determining a not-for-profit organisation’s tax liability/credit is not necessarily straight forward. 

 

For example, often the amount of tax to be paid on income will not be able to be estimated directly from the financial statements of the organisation.  The issues are further complicated when an organisation undertakes both not-for-profit and commercial activities, or undertakes activities overseas. 

 

The issues touched on above and more are discussed in some detail on the Inland Revenue Department web site.