ACNC Activities | August

By William Buck on 17/08/20 - Mins to read: 3 minutes

Release of The Australian Charities Report 2018 Australian charities’ revenue grew by more than 6 per cent in 2018, more than triple the Australian economy’s counterpart figure. This is a key finding of the just-released ACNC’s Australian Charities Report 2018. The report documents the contribution of Australian charities to...
Read More >
NFP governance | August

By William Buck on 17/08/20 - Mins to read: 3 minutes

ATO helps NFPs to comply The Australian Taxation Office has compiled a list of online resources that aims to help NFPs in their annual reviews of tax compliance. Included are an online guide on exemptions for sporting clubs and an income-tax-status review worksheet that most NFPs should be able to...
Read More >
NFP Financial reporting insights | August

By William Buck on 17/08/20 - Mins to read: 3 minutes

Removal of special purpose financial statements for certain for-profit entities In March 2020 the AASB approved the issue of AASB 2020-2 Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities and AASB 1060 General Purpose Financial Statements – Simplified Disclosures for...
Read More >
NFP COVID-19 | August

By William Buck on 17/08/20 - Mins to read: 3 minutes

ACNC | COVID19 website resource The Australian Charities and Not-for-profits Commission has recognised that a charity’s usual operations might be affected by COVID-19 and has set up a dedicated web page here to help charities. Topics covered include: ACNC compliance during COVID-19 Federal government support for eligible charities Charity meetings...
Read More >
Not-for-Profit Boards – It’s time to rethink your model!

By Andrew Bradley on 17/08/20 - Mins to read: 3 minutes

Thought leadership The best performing Boards and Investment Committees (ICs) recognise their primary role is one of governance, not operations and certainly not investing. Fundraising and investment are two big issues NFP Boards and IC’s are struggling with right now. Issues for Fundraisers With fundraising, the basic issue is...
Read More >
NFP Financial reporting insights

By William Buck on 17/08/20 - Mins to read: 3 minutes

New SPFS disclosures take effect   Under AASB 2019-4 Amendments to Australian Accounting Standards – Disclosure in Special Purpose Financial Statements of Not-for-Profit Private Sector Entities on Compliance with Recognition and Measurement Requirements, new disclosure requirements take effect for financial years ending on or after 30 June.    You will need...
Read More >