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) [...]
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 [...]
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 [...]
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 [...]
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 [...]
As you may be aware, the ATO is expanding the data collected through the Single Touch Payroll process - this is known as ‘STP Phase 2’. STP phase 2 requires more granular information to be given to the ATO, providing greater visibility of the types of income employees receive (and where it should be pre-filled [...]
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 [...]
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 [...]
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 [...]
No time to draft your finance policy documents from scratch? If your organisation needs support to update or implement financial management policies, please reach out to Purpose. We have created a full suite of template finance policy documents, written in Plain English and tailored for non-profit orgs. See here for more details on what’s available!
