A range of no-cost and low-cost Single Touch Payroll (STP) solutions are being made available from early 2019 in addition to existing commercial STP solutions. The no-cost or low-cost solutions have been developed for micro employers (those with one to four employees) who need to report through STP but do not currently have STP ready software. These solutions may include…

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A UK report calling into question religious charities that promote beliefs that don’t align with British values and opinion, has sparked discussion among Australian charity experts over the role and position of such organisations. The report, due to be released on Monday by the National Secular Society, found that over 12,000 British charities exist with the sole purpose of promoting…

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Fundraisers are calling for a deceleration on new charity approvals, saying the hundreds of new organisations being registered each month is resulting in more competition for funding, and causing confusion among funders on where best to spend money. According to the Australian Charities and Not-for-profits Commission (ACNC), Australia currently has 57,000 registered charities, with the number growing by four per…

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Approval to report to the ACNC as a group is subject to review, but once an approval is granted, it will continue until the ACNC notifies the group otherwise. If a reporting group fails to comply with any relevant conditions, the ACNC may remove the approval to report as a group. In such cases, they will notify the group of…

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The parliament has passed legislation to extend STP to include all employers from 1 July 2019. This will be a gradual start, and not all employers will start reporting at the same time. Determine when you need to start reporting from one of the following options: Start reporting early. If you use payroll software which offers STP, you can update…

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In this update, AASB Staff have addressed how a NFP school could address which Standard to apply to the different types of upfront fees they charge, as well as how they could consider identifying and recognising performance obligations in accordance with AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-Profit Entities. These additions accompany the existing…

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As charities increasingly look to other revenue streams to stay afloat, a guidebook is aiming to help not-for-profit leaders navigate the world of social enterprise. Published in partnership with Wayside Chapel, University of Technology Sydney (UTS) researchers said despite information emerging to help for-profit business focus on social purpose, the same hadn’t been done for for-purpose organisations. “Research is emerging…

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After months of debate, the Australian Securities Exchange last week dumped a proposal to include reference to a “social licence to operate” in its updated Corporate Governance Guidelines. The new guidelines, released on Wednesday, replace “social licence to operate” with terms such as “reputation” and “standing in the community”. The chair of ASX Corporate Governance Council Elizabeth Johnstone says they…

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The ATO have confirmed it will waive the Part 7 penalties for clients who voluntarily disclose historical underpayment of the superannuation guarantee, despite the proposed amnesty not yet law. The SG amnesty measure was originally intended to apply from 24 May 2018 till 23 May 2019, but has yet to be legislated. The Tax Office has now confirmed it has…

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Even though almost 70% of charities that were required to submit their 2018 Annual Information Statement by 31 March 2019 have already done so, we (the ACNC) are aware some charities encountered technical issues. Because of this, I (ACNC Commissioner) am exercising my discretion to grant a further seven-day extension to the charities who had a due date of 31…

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