Finance

Not-for-profit (NFP) organisations face financial challenges unique to this sector. Tax, budgeting, auditing, salary packaging, ‘role of the treasurer’, presenting finances to the board and activity based costing are examples of issues that management has to be knowledgeable about in order to run a viable NFP business.

These resources, provided by highly qualified practitioners, will address many of these issues to assist you in the success of your operations.

• Tax

  • Aid/Watch case addresses tax exempt status

    Jonathan Casson, Partner, Holman Webb Lawyers, reports on Aid/Watch, the landmark decision concerning whether organisations engaging in political communication and lobbying could be considered ‘charitable institutions’ – qualifying for tax exemption... more

  • Payroll Tax Exemption for Not-For-Profits

    The legislation in relation to payroll tax changed in 2007 and the Payroll Tax Act 2007 (the “Act”) was enacted... more

• Auditing

  • The Value-Add Audit

    While auditing is generally accepted as an integral process in the good governance of an association, the true value an association can gain from its audit is often less understood... more

• Financial Case Studies

  • Recovering from financial trouble the FTA Story

    A detailed look at how the Finance & Treasury Association (FTA) fell into financial difficulty and the steps it took to stay in business, as described by FTA president Mike Dontschuk.

    The Finance & Treasury Association (FTA) is an association for professionals working across all aspects of treasury and financial risk management. It is a Company Limited by Guarantee incorporated under Australia’s Corporations Act, and began as the International Treasury Club. In 1982 its name changed to the Australian Society of Corporate Treasurers and in 1998 it changed its name to the Finance & Treasury Association... more

• Salary Packaging

  • Simple and effective salary packaging

    Does your organisation shy away from salary packaging because it “all sounds too hard” or the “administration is a nightmare”? Well read on and discover how simple it can be to offer your employees some really significant tax savings

    Many employers opt for the external bureau when offering salary packaging to staff, and this is one way to combat the administrative difficulties. However, it can actually be very easy to run a simple in-house system that generates the best savings for employees, without being a burden on your organisation..... more

• Financial Reporting Requirements

  • Enhancing not-for-profit annual and financial reporting

    As part of its ongoing initiatives in not-for-profit reporting, in 2011 the Institute of Chartered Accountants in Australia has published the third edition of Enhancing not-for-profit annual and financial reporting, which was first launched in 2007. The guidance is a tool designed specifically for the NFP sector to attain best practice in their annual and financial reports, as well as providing an overview of applicable legislation and resources.

    This document can be viewed and downloaded from the Associations Forum website either in its entirety or by chapter.

    For more information please contact Kerry Hicks FCA, Head of Reporting, the Institute of Chartered Accountants in Australia by email at: kerry.hicks@charteredaccountants.com.au... more

  • Financial reporting for NFPs

    What at first appeared to be simplifications to reporting requirements for not-for-profits now appear to impose further disclosure in coming years. Early in 2010 the Federal Government and the Australian Accounting Standards Board (AASB) introduced new financial reporting standards... more