Determining if your association needs an audit can be straightforward when you know your annual revenue. According to the ACNC’s update, associations are classified as follows: Small Associations: Annual revenue under $500,000 Medium Associations: Annual revenue of $500,000 or more, but under $3 million Large Associations: Annual revenue of $3 million or more What Does […]
As a not for profit organisation, your credibility rests on your reputation for integrity. Transparency and rigour in all your financial dealings is crucial to maintaining your good standing in the community and amongst donors. Good governance can be one of your most productive assets. That’s why it’s a good idea to have a rotation […]
Starting June 30, 2024, the Australian Taxation Office (ATO) has introduced new NFP annual reporting requirements that will affect all not-for-profit organisations (NFP). This new mandate requires NFP’s to annually confirm their eligibility for tax exemption status using a specific self-assessment tool provided by the ATO. Understanding and adapting to these changes can be challenging, […]
From 1 July 2016, the audit rules for clubs and associations in WA have changed. Do you need help understanding the rules? From 1 July 2016, smaller incorporated associations – that is, clubs and associations with less than $250,000 revenue per annum – will have no requirement to undertake a review or audit of their […]
From 1 July 2016, new audit rules for clubs and associations in WA will come into effect. Are you ready? Do you need help understanding the rules? Smaller incorporated associations – that is, clubs and associations with less than $250,000 revenue per annum – will have no requirement to undertake a review or audit of their […]
Francis A Jones
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