For Impact is HLB Mann Judd’s regular newsletter for the not for profit community.
In Issue 40 we address NFP governance updates, cyber security, ACNC activity, financial reporting and NDIS-related activity.
A summary of the key points:
NFP governance updates
- New privacy guidance released
The Office of the Australian Information Commissioner (OAIC) has updated privacy guidance for not for profits.
Cyber security
- OAIC accepts Oxfam’s undertaking
Privacy commissioner Carly Kind has accepted an enforceable undertaking from Oxfam after a data breach resulted in the loss of up to 1.7 million records.
DGR
- Rules released on DGRs
The 2025 guidelines on charities’ compliance to be endorsed as deductible gift recipients have been released.
Sustainability Reporting
- ASIC releases guidance on sustainability reporting
The Australian Securities & Investments Commission (ASIC) has published new advice on preparing sustainability reports containing climate-related financial information.
Compliance
- Lodge self-reviews to avoid income tax
Starting from 2023-24, more than 100,000 non-charitable not for profits with an Australian business number must lodge an annual self-review to notify the tax office of their eligibility to self-assess as income tax exempt.
Financial Reporting
- Climate-related risks affect financial statements
Building on three previous reports, Chartered Accountants Australia & New Zealand has partnered with the University of Melbourne, the University of Queensland, and the Australian Accounting Standards Board to release Effects of climate related risks on financial statements.
ACNC
- ACNC probes Canberra college
The Australian Charities and Not for profits Commission is investigating concerns about Brindabella Christian Education Ltd, a charity operating Brindabella Christian College in Canberra.
NDIS & AGED CARE
- Valmar fined almost $2 million
The Federal Court has fined Valmar Support Services Ltd $1,916,250 – the highest ever civil penalty imposed on a NDIS provider. - FWO targets aged care providers
The FWO is investigating aged care providers in five states to ensure that staff are receiving the right pay and entitlements.