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 [...]
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, [...]
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 [...]
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 [...]
Last night the Government signalled a key change to the JobKeeper wage subsidy, as it applies to non-profit orgs. The wage subsidy was introduced last week to help those employers experiencing economic downturn as a result of Covid-19, to retain staff through the crisis. The subsidy provides $1,500 per employee*, per fortnight for up to [...]
Yesterday the Government announced a further stimulus package to keep businesses and employees afloat during the ongoing Covid-19 challenge. The central feature of the package is a wage subsidy of up to $1,500 per employee, per fortnight. The good news is that this will apply to the non-profit sector. Unlike previous stimulus measures however, the wage [...]
The Government recently announced a second-stage economic stimulus package to support NFPs, businesses and individuals in the face of the Coronavirus pandemic. The good news is that under these measures, for-purpose organisations that employ people will receive an untied cash payment of up to $100,000. That is up to $50,000 in this financial year, and $50,000 next [...]
Following the escalation of the Covid 19 situation, Purpose has made the decision to move to a remote working model, commencing today. This means that for the next few weeks at least, our regular client site visits and other scheduled appointments will be offered in an online or phone format, rather than in person. All services will continue to be delivered [...]
Since 2012, pay rates for employees in the Social and Community Services (SACS) industry have gradually been increasing, under the Equal Remuneration Order made by the Fair Work Commission. The ERO addressed the gendered undervaluation of work performed in the community services sector. As a result, wages will have increased by up to 45% when staff [...]
The Australian Accounting Standards Board (AASB) has confirmed new disclosure requirements for non-profit organisations preparing Special Purpose Financial Statements (SPFS). New requirements will apply to financial years ending on or after 30 June 2020. This will affect your audit if you report Special Purpose. How do I know if my organisation is reporting Special Purpose? Your [...]
