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So far purpose has created 53 blog entries.

15% payrise for aged care workers – 30 June commencement

Back in November 2022, the Fair Work Commission (FWC) ordered a 15% interim increase in minimum wages for aged care workers. This applied to the Aged Care Award 2010, as well as to direct care workers providing services to the aged under the Social, Community, Home Care and Disability Services Industry Award 2010 (SCHADS Award) [...]

2023-04-18T04:25:33+00:00 March 18th, 2023|NFP sector|

Paid family & domestic violence leave: our approach (where we manage clients’ payroll)

In October 2022, Parliament passed the Fair Work Act Amendment - Paid Family and Domestic Violence Leave. This provides an entitlement for all employees, including casual employees, to 10 days of paid family and domestic violence leave in each 12-month period. These changes came into effect on 1 February for larger businesses (with 15 or [...]

2023-04-18T04:15:48+00:00 February 18th, 2023|NFP sector|

Some tricky maths…insights on a common budget building mistake

In our years working with clients to build budgets, we sometimes encounter a common error in the process, which leads to a shortfall in organisational overheads. Sharing our learnings below for those wading into these murky waters…! When we talk overheads we usually refer to these as a % of total income However, often when [...]

2023-04-18T04:22:05+00:00 January 14th, 2023|NFP sector, Purpose Accounting team|

New workplace laws passed

Earlier this month, the Government passed the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022. This legislation introduces new workplace laws and amends a range of existing rules. Some of these changes started this month, while others will commence next year. Amongst the changes are new restrictions regulating the use of fixed term [...]

2023-04-18T04:02:50+00:00 December 18th, 2022|NFP sector|

Remote CFO: outback style

Our Senior Finance Associate Anna was delighted to visit Prue Ritchie and the team at Bourke & District Children’s Services. BDCS provides a valuable local childcare service to Bourke and surrounding areas, including long day care; after school care; pre-school and a mobile playgroup. Though we’ve worked with BDCS for 2.5 years, with the pandemic [...]

2023-04-18T04:07:34+00:00 October 4th, 2022|NFP sector, Purpose Accounting team|

The thin end of the wedge – grant indexation

With inflation at the highest level we’ve seen for decades, it is more important than ever for grant-funded organisations to see their funding indexed for CPI. Otherwise, services will need to be cut to operate within that funding parcel. There is always a range of indexation outcomes across our client orgs, and between different funding [...]

2022-10-04T02:22:03+00:00 August 4th, 2022|NFP sector|

Welcome to Rachel!

With our growing client workload, we have been really pleased to welcome our new part-time Assistant Accountant, Rachel Larner. Rachel has extensive experience in finance and administration roles, including 8 years working in the financial planning industry. Her introduction to the world of not-for-profits came through joining the committee of her children’s community pre-kinder in [...]

2022-10-04T02:36:48+00:00 July 4th, 2022|Purpose Accounting team|

Super changes now in effect: employee eligibility & super guarantee

On 1 July, important changes came into effect regarding super payments: Employers must now pay super for all employees who are paid salary and wage payments - regardless of how much the employee earns every month (there is no longer a $450 per month income threshold). Certain employees will still need to satisfy other eligibility [...]

2022-10-04T02:31:30+00:00 July 4th, 2022|NFP sector|

New single standard for disclosures – Special & General Purpose reporting

We have previously reported on changes to Australian Accounting Standards, relating to Special and General Purpose reporting. These changes came into effect on 1 July 2021. The previous General Purpose Reduced Disclosures Regime (GPFS-RDR) has now been replaced with a new single standard, which includes all disclosure requirements: AASB 1060 General Purpose Financial Statements – Simplified Disclosures for [...]

2022-04-12T05:01:17+00:00 April 12th, 2022|NFP sector|