Calisthenics Victoria
Club Finances
Club Budget
A budget is a financial plan that outlines:
-
How much money the club expects to receive (income)
e.g., memberships, sponsorships, merchandise and event sales, grants, fundraising. -
How much money the club expects to spend (expenses)
e.g., equipment, costuming, coaching payments, facility hire, insurance, administration.
In short, it’s the club’s money map—a guide that helps the committee plan for the season and make smart financial decisions.
Why you should prepare a budget?
- Keeps the Club Financially Stable
- Helps Plan for the Future
- Supports Fair and Transparent Decision-Making
- Ensures Resources Go Where They’re Needed Most
- Helps Secure Sponsorships and Grants
- Allows for Quick, Informed Decisions
Resources
Club Budgeting Webinar (passcode: f5*&H7yr )
Budget template for clubs
ATO - Not for Profit Reporting
What Is the NFP Self‑Review Return?
The ATO has introduced a mandatory annual reporting requirement for non‑charitable not‑for‑profits (including sporting clubs) with an active ABN. To continue accessing income‑tax exemption, eligible organisations must lodge an NFP self‑review return each year.
For sporting clubs, this return formalises what was previously a self‑assessment process. Lodgement is now compulsory.
Who Must Lodge?
Your sporting club must lodge if it:
- Is not a charity
- Is a not‑for‑profit organisation with an active ABN
- Wishes to self‑assess as income‑tax exempt
Charities registered with the ACNC do not lodge the NFP self‑review return they have separate ACNC reporting obligations
Key Lodgement Dates
-
Annual lodgement deadline: 31 October each year.
Why It Matters
If your club does not lodge:
- The club may become ineligible for income‑tax exemption, and
- Penalties and tax return requirements may apply for that year.
What Sporting Clubs Should Do Now
Before lodging, your club should ensure:
- ABN is active
- Contact details with the ATO are current
- Governing documents contain required clauses (e.g., no distribution of profits)
- The club can access Online Services for Business
- An internal annual self‑assessment of purpose and operations has been completed
How to Lodge
Lodge via ATO Online Services for Business.
The ATO provides a question guide to support committees and boards with reviewing eligibility.
For Grants, Fundraising and Sponsorship ideads please visit: