RSM Australia

Not for profit

We have significant experience working with clients who are recipients of government assistance including grants and contract payments, and philanthropic support including bequests, endowments, donations and fund raisings. We are experienced in addressing the regulatory requirements of government and other fund providers including grant acquittal, obtaining or maintaining tax exempt status and fringe benefit tax exemptions.

We understand the importance of preserving an entity’s reputation within the community through accountable, transparent and ethical operations. Our clients can achieve their community objectives and develop their organisation.

Our tax, audit and accounting specialists provide a range of services for organisations in the Not-for-Profit sector.

These services include:

  • External audit - We provide assurance services to enable effective, transparent and timely accountability to government, benefactors, fund providers, lenders, service recipients and the community at large.
  • Internal audit - We address the issues associated with ongoing business operations, systems, technology, governance and major change initiatives. We focus on enabling technologies and processes that impact business controls.
  • Risk management - Risk management is an integral part of good management practice. It is therefore imperative that Boards develop a standardised process for the identification, analysis and treatment of all risks across the organisation. We provide assurance to governing Boards and management that key risks are identified and managed in the interest of the entity and the community it serves.
  • Corporate governance - We assist governing Boards to operate in an effective, transparent and accountable manner in the best interest of members, fund providers, constituents, and the community.
  • Secretarial and administration - We provide the administration and secretarial support to an organisation to enable key staff to concentrate on service delivery.
  • Implementation of the NDIS

Taking a bite out of new FBT meal benefit rules

5 April 2016
Are you part of a not-for-profit (NFP) health organisation that offers benefits to its workers in exchange for lower wages? If so, you need to know that the Federal Government has introduced changes to fringe benefit rules from April 1.

Tips to improve your cash flow

17 February 2016
The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:

RSM launches Ready4 with National Disability Services and the ACT Council of Social Services

12 November 2015
RSM has launched Ready4 alongside  National Disability Services (NDS) and the ACT Council of Social Services (ACTCOSS), creating a central point of contact for organisations transitioning over to the National Disability Insurance Scheme (NDIS) in the ACT. The Ready4 program was commissioned by the ACT Government.

Challenging times in the not-for-profit sector

15 October 2015
Increased costs of compliance, changing government priorities, high administration costs are just some of the challenges which are being faced by the not-for-profit sector.

Change in discount rate for employee obligations

8 October 2015
Under AASB 119 Employee Benefits, all for-profit entities and not-for-profit private sector entities are required to discount employee liabilities using the rate applicable to high quality corporate bonds. Where there is no deep market for those bonds, government bond rates are used.

WA state tax exemption for charitable bodies or organisations

10 April 2015
How will the changes affect your organisation?

How to minimise the risk of aquisitions

30 March 2015
Merger and acquisition activity is soaring in some sectors such as healthcare, while it is taking a backseat in other sectors such as mining services. In this climate, businesses must take a step back and evaluate the benefits and risks of making acquisitions in their sector.

Fringe benefits tax – tax tips for year end

16 March 2015
With 31 March just around the corner, many businesses are focusing on ways to reduce their fringe benefits tax (FBT) liability. We have therefore provided the following strategies that may help in reducing FBT.