JobMaker Hiring Credit Scheme

The Federal Government’s JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16 to 35. If you hire new employees, you may be eligible to receive payments under the scheme, which is administered by the ATO. Organisations can access JobMaker for each eligible additional employee they hire between [...]

2021-04-06T05:34:53+00:00 April 1st, 2021|NFP sector|

ACNC guidance: Government income and other audit report changes

The ACNC is beefing up its guidance for financial reporting in the area of Government revenue reporting (requiring more detail in statutory accounts at the level of Government and Departments). For our clients, distinguishing the income by Department will be a new level of detail in many cases. Staying on top of Department name changes [...]

2021-04-06T11:55:37+00:00 March 6th, 2021|NFP sector|

Final SCHADS ERO this month

December saw the last Equal Remuneration Order (ERO) pay rise for employees on the SCHADS Award. This completes the ERO process that began in 2012, which saw relevant employees receiving both the ERO and the national minimum wage increases, concurrently. This is the final ERO. What is great for administrators is the merging of the [...]

2020-12-28T23:38:05+00:00 December 12th, 2020|NFP sector|

JobKeeper Extension 2 is just around the corner

Purpose has been working with a number of clients to support them to access the JobKeeper 2.0 scheme, covering the period 28 September to 3 January 2021. From early January, we will turn our focus to the next phase of the scheme, JobKeeper Extension 2: This phase runs from 4 January to 28 March 2021 [...]

2020-12-28T23:37:53+00:00 November 28th, 2020|NFP sector|

High Court overturns Federal Court ruling on extra entitlements for casual workers

We have been following the Rossato vs WorkPac case for many months now and on 13 August we finally received some clarity around the definition of ‘casual employment’ and the entitlements owed to long-term casual employees. The High Court overruled the previous decision of the Full Federal Court, finding that employees are entitled to 10 ‘notional days’ [...]

2020-10-29T12:00:40+00:00 September 29th, 2020|NFP sector|

Receipt Bank awards nomination for our Ricardo!

We are excited to announce that our tech innovation wizard Ricardo has been nominated for Receipt Bank’s ‘Most Efficient Accountant’ Award. The Awards night will be held on 6 November, celebrating Accountants and Bookkeepers that are paving the way for the industry through the use of the innovative accounts payable software. Purpose has helped many clients [...]

2020-10-29T12:07:02+00:00 August 14th, 2020|NFP sector, Purpose Accounting team, Technology|

Wage increases: all Awards up by 1.75%; last ERO for SCHADS

Following its 2020 Annual Wage Review, the Fair Work Commission has announced a 1.75% increase to the National Minimum Wage. With the minimum increased, all levels of Modern awards increase by the same 1.75%. This increase is akin to a CPI indexation but the Commission takes in additional factors in coming to the percentage increase. The timing [...]

2020-07-22T00:52:06+00:00 July 1st, 2020|NFP sector|

The Rossato decision – Federal Court rules on extra entitlements for casual workers

In late May the Federal Court issued a long-awaited decision that has thrown into question the definition of ‘casual employment’ and the entitlements owed to long-term casual employees. In the case of casual employee Mr Rossato vs labour hire company WorkPac, the Court ruled that Rossato (the employee) was entitled to be paid annual leave, [...]

2020-06-30T11:43:07+00:00 June 20th, 2020|NFP sector|

Acquittal of Cash Flow Boost and JobKeeper payments (for Govt grant funded orgs)

For grant funded organisations receiving stimulus, a question that arose with the stimulus receipts is whether it would need to be reported in program acquittals? We pondered this and discussed with leading auditors. Our general conclusion is that the stimulus payments are corporate level rather than program level and therefore will not need to be acquitted. This [...]

2020-07-22T01:04:33+00:00 May 30th, 2020|NFP sector|

Huge additional JobKeeper concession announced for charities

Based on the Treasurer’s announcement over the weekend, charities now have the option of excluding Government income from their JobKeeper turnover test (i.e. in proving a 15% decline). That means the turnover reduction can be limited to the comparison of non-Government income sources, such as donations and fee for service. See the media release here. We can see [...]

2020-04-28T22:36:52+00:00 April 28th, 2020|NFP sector, Purpose Accounting team|