Confused About Tax Laws and Deductible Gift Recipient Status?
Justice Connect launches a new free DGR tool to help you work out whether you’re eligible for deductible gift recipient (DGR) status and what the relevant DGR category might be. The legal requirements are complex, the tax laws are complicated, and the language is old-fashioned and daunting. This new tool takes less than 20 minutes to complete and will help you make sense of the law.
Cutting Red Tape for Charities
The Hon Michael Sukkar MP, announced that the Coalition Government will cut red tape for thousands of Australian charities, with financial reporting obligations to be eased from the upcoming financial year.
New Director Identification Number coming…
The director identification number (director ID) initiative will be introduced as a part of a new modern registry service – the Australian Business Registry Services (ABRS). Directors don’t need to do anything now. The ATO is testing the new application process in a private beta to ensure a seamless user experience, and will call for expressions of interest shortly.
Ancillary funds : reminder of guideline changes due to COVID
In June 2020, the ancillary fund guidelines were amended to encourage increased distributions to DGRs as a result of the COVID-19 pandemic.
Enhancing the transparency of income tax exemptions for not-for-profits
In the 2021-22 Budget the Government announced changes to the administration of NFPs that self-assess as income tax exempt. From 1 July 2023, NFPs with an active ABN will submit an online annual self-review form with the information they ordinarily use to self-assess their eligibility for the exemption. The ATO will work closely with the sector in the implementation of this measure.
How to Apply the Superannuation Guarantee Rate Rise
On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. Some pay periods will cross over between June and July when the rate changes.
Fill Your Not-For-Profit Reporting Gaps Webinar
With limited IT resources and far too many manual accounting processes, finance teams utilise traditional reporting that only provides backward-looking information about the prior month, quarter, or year. However, executives need real-time reporting that can be customised by role, program, location, funding source, and more.
The Digital Agenda: Modernising the Finance Function
Hear from Shy Bastianpillai, CFO of Royal Institute for Deaf & Blind Children (now known as NextSense).
STP expansion (Phase 2) date announced
In the 2019-2020 Budget it was announced that the data collected through Single Touch Payroll (STP) will be expanded. This expansion of STP data reduces the reporting burden for employers who need to report information about their employees to multiple government agencies and supports the administration of the social security system.
The ATO’s Support For Not-For-Profits
Watch this brief video by Jennifer Moltisanti, Assistant Commissioner, Australian Taxation Office, to find out about the range of tools and services the ATO offers to help not-for-profits whether starting up, running a not-for-profit or changing your organisation. Let the ATO help you to meet your tax and super obligations.
Driving finance digital transformation for greater social impact
Hear from Kristina White, CFO of Job Centre Australia, as she shares insights on; Strategies for gaining visibility into your organisation’s financials, using technology to drive finance transformation and lessons paving the way for CFOs to survive and thrive for growth.
Working with NFPs during COVID-19
Nunzio Giunta, Managing Partner of Giuntabell, shares insights on how not-for-profits weather the pandemic:
Launch of Sage Intacct – The Changing Role of the CFO
The nature of the CFO role in business in Australia is changing due to the digitalisation of business and industry. Kerry Agiasotis, Executive Vice President of Sage Asia Pacific and Managing Director of Sage Australia, introduces the 2019 launch of Sage Intacct in Australia and shares highlights of research by Edelman Research and what this means for the CFO role.