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In Australia, non-charitable entities must file an annual self-review return to confirm their income tax-exempt status. While the exemption law hasn't changed, updated reporting obligations are now in place. Stay compliant with these new requirements. Contact us today for a consultation! 📞 +16199632093 ✉️ contact@ezbuzzsolutions.com 🌐 www.ezbuzzsolutions.com . . . #AustraliaTax #IncomeTaxExemption #NonCharitableEntities #Outsourcing #OutsourceAccounting #OutsourceBookkeeping #AccountingAndBookkeeping #TaxCompliance #BusinessFinance #TaxConsulting #FinanceTips #TaxUpdates #SelfReview #IncomeTax #BusinessTax #FinancialReporting

Are you aware that failure to file your annual returns with the Corporate Affairs Commission could jeopardize your business? The Corporate Affairs Commission directs all registered companies to file annual returns, as stated in the Companies and Allied Matters Act 2020. The filing of annual returns updates your company information, especially the financial status, thereby building trust with your prospective investors and clients. I have noticed that some companies delay filing their annual returns, thereby accumulating penalties and missing out on huge deals. The timely filing of annual returns ensures your company's efficiency, keeps your business organized with the Corporate Affairs Commission, and protects it from eventualities. When is your annual return due for filing? 🎯For new companies, your first annual returns are due after 18 months of incorporation. 🎯For fresh business names, it is due the following year after registration, not later than June 30th of each year. 🎯It is also a yearly mandate to file incorporated trustees’ annual returns. Who are incorporated trustees? They are non-profit organizations, for example: religious bodies, NGOs, charities, cultural associations, and educational foundations/initiatives. Make it a yearly priority to file your annual returns, ensure your company’s transparency, and maintain its legal standing. The Corporate Affairs Commission takes noncompliance with annual return filing seriously, which can lead to striking off a company from the register, preventing it from conducting business, entering into contracts, and freezing of assets, including money in the bank account. Do not wait till it is too late to file your annual returns; contact us now to ensure that your company remains active at the Corporate Affairs Commission.

Many NGO founders are seeking funding for their organisation but are not funding ready? If you cannot categorically mention what you need funding for outside salary and other overhead cost, you are not funding ready. Similarly, if you don’t have these documents among others, you need to reconsider your ways: 1. CAC Registration: Without being registered with the Corporate Affairs Commission (CAC), the organization lacks legal recognition and credibility, which is crucial for attracting donor funding. 2. SCUML Certificate: Absence of the Special Control Unit against Money Laundering (SCUML) certificate may raise concerns about financial transparency and compliance with anti-money laundering regulations. 3. Bank Accounts: Without a dedicated bank account for the organization, there's no clear mechanism for managing and disbursing funds transparently. 4. Previous Audited Reports:Donors typically require audited financial reports to assess the organization's financial health and accountability practices. 5. Minute of Last Board Meeting: Lack of documented minutes from the last board meeting suggests a lack of governance structure and decision-making processes within the organization. 6. Experienced team members: The absence of experienced officers in project management and finance roles may raise doubts about the organization's capacity to effectively utilize the grant funds. 7. No Physical Office: Operating without a physical office space may indicate limited organizational capacity and infrastructure, which could affect project implementation and oversight. 8. Lack of Operational Policies and Manuals: Missing essential operational policies and manuals, such as procurement policy, code of conduct, safeguarding, organogram, whistleblowing and finance manual, hinders transparency, accountability, and consistency in organizational practices. Addressing these gaps is crucial for enhancing the organization's credibility, operational efficiency, and readiness to secure funding from donors. #grant #nonprofit #startup #philanthropy

The structure of departments in an NGO can vary depending on the size and focus of the organization. However, common departments in NGOs include the board of directors, the chief executive officer and seven departments; 1. Programs Department: Responsible for designing, implementing, and evaluating the organization's projects and initiatives. 2. Finance Department: Manages the financial aspects of the NGO, including #budgeting, accounting, and financial reporting. 3. Fundraising and Development Department: Oversees #fundraising activities, donor relations, grant writing, and partnerships to secure funding for the organization's programs. 4. Communications Department: Handles external communications, #marketing, public relations, stakeholders and media relations to raise awareness about the NGO's mission and impact. 5. Human Capital - #People and #Culture Department: Manages recruitment, training, employee relations, and ensures compliance with labor laws and regulations. 6. Monitoring and Evaluation Department: Monitors and evaluates the effectiveness of programs, Impact assessments, quality control, collects data, and provides insights for decision-making and program improvement. 7. Operations Department: Handles general administrative tasks, #IT, #Legal, #Risk, office management, and #logistical #support for the organization. These departments work together to ensure the smooth operation and success of the #NGO in achieving its #goals and making a #positive #impact in the community. Note; I always say, in strategic planning, one must always play the black and white keys of a piano to produce a #masterpiece symphony. #sinkalaism

Please do not miss the important update that can have significant impacts on your business. Major developments! My law partners Benjamin Fink Neal Weinrich Lea Dearing Ken Winkler are on the forefront of these issues. Reach out with any questions. Lots to digest and we're here to help!

For more on the FTC's noncompete ban and its potential impact for employers and employees, please see this short FAQ that my partner Benjamin Fink and I authored.

**Looking for recommendations: Treasurer (Penningmeester, Raad van Toezicht)** Unfortunately, we'll have to part ways with our current wonderful Treasurer, so we are looking for recommendations for an experienced finance expert to take up this role in Systemic Justice's governance. Who are we looking for? 👉🏾 Ideally, we’d like to work with someone who has hands-on experience managing/overseeing the finances of a non-profit organisation. We’ve found that it is helpful if the Treasurer understands how things work for an organisation that is funded by foundation grants, and that may in the future pursue EU and potentially government funding. 👉🏾 Such experience within the Netherlands would be highly beneficial, though we can consider someone who has done this work in other jurisdictions and knows the right questions to ask. 👉🏾 For our team, governance, and external providers, we seek to work with people who have lived experience with systems of oppression.   What are we asking? 👉🏾 3 meetings per year: one in person at one of Systemic Justice’s team retreats (1-2 days), two online (2 hours each) 👉🏾 Overseeing/supporting the annual financial audit – this means reviewing the accounts and engaging with the auditor. This will always depend but should not add up to more than 1-2 days in total as we have an experienced finance team leading on this.   What do we offer? 👉🏾 The opportunity to be part of the further building of the first Black-led, majority BPOC organisation in Europe building strategic court cases with community partners for racial, social, and economic justice.  👉🏾 A modest remuneration (“vacatiegeld”) as allowed by the regulators for organisations with ANBI (public benefit organisation) status. 👉🏾 To this, I should add that we always pick lovely locations for our team retreats 😊 and that there is the option of being more involved in our process of developing a community accountability model etc. if the person has the interest and time. If you know anyone who could be a good fit for this, please do drop me a line or tag them in the comments below. I'd love to connect and tell them more about our work and the role in a personal conversation. Thank you!

Non-compete agreements are not the same as non-solicitation and non-service agreements, though they are all considered restrictive covenants. Non-competes prohibit an employee from engaging in a business that competes with their current employer’s business. https://ow.ly/anun50SHw51 #NonCompete #NonCompeteAgreements #EmploymentLaw

Did You Know? There are differences between a Non-compete, Non-solicitation, and Non-disclosure agreements. How have you used these agreements in your business? #thewrightlawyer #OnlineBusinessLaw #EcommerceLegal #DigitalCompliance #CyberLaw #InternetBusinessLegal #DataPrivacy #DigitalBusinessLaw #OnlineCompliance #TechLegal #DigitalEntrepreneurship

Some employers have been criticized for their use of non-compete agreements. While a total ban may not be necessary, it's important to consider the impact these agreements can have on employees. However, companies can still utilize non-disclosure and non-solicitation agreements to protect their confidential information. It's important to strike a balance between protecting a company's interests and allowing employees to pursue their careers. What do you think? #NonCompete #EmploymentAgreements #BusinessNews