Director IDs now needed for all Directors

The Government has introduced changes requiring all Directors to apply for a Director ID (previously referred to as a 'Director Identification Number' or 'DIN'). A Director ID is a unique identifier, issued to Directors that have verified their identity with the Australian Business Registry Services. It applies to all Directors of a Company, registered Australian [...]

2021-11-02T02:37:35+00:00 September 2nd, 2021|NFP sector, Technology|

Covid 19 Support for NSW businesses – an update

Last week we shared news of the financial support measures being introduced by the Federal and NSW Governments, in response to the latest Covid 19 outbreak. These included: 1. NSW Government small business grants 2. The SME business support payments (JobSaver Program) Applications for the small business grants opened yesterday and are due to close on 13 [...]

2021-07-22T04:05:40+00:00 July 20th, 2021|NFP sector|

Covid 19 Support for NSW businesses

With a sense of déjà vu for NSW-based organisations, again this winter we will be traversing disruptions to our organisations and personal lives. Hang in there friends! On a positive note though, Governments are stepping in once more to provide financial support. Yesterday we saw the Federal and NSW Governments joining forces to offer support [...]

2021-07-22T04:15:55+00:00 July 15th, 2021|NFP sector|

­Increases to minimum & award wages; Super Guarantee

Following the Annual Wage Review 2021, the Fair Work Commission announced a 2.5% increase to the national minimum wage and all award wages. Where Purpose is supporting clients with bookkeeping services, we have applied the relevant changes via Xero / payroll systems to ensure employees have a seamless transition to the new rates. For those [...]

2021-08-11T13:19:39+00:00 July 10th, 2021|NFP sector|

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|