Daily Archives: September 20, 2021

Charity sector reform – change size thresholds, related-party disclosures & remuneration disclosure – draft regulations released

Mon 20.9.2021, Treasury released exposure draft Australian Charities and Not-for-profits Commission Amendment (2021 Measures No 3) Regulations 2021. The Draft Regulations propose changes to the Australian Charities and Not-for-profits Commission Act 2012 (the Act) to: increase the annual revenue thresholds used for determining whether a registered entity is a small-registered entity (less than $0.5m), a medium registered entity…

JobSaver and COVID-19 business grant: NSW requires recipients to confirm eligibility each fortnight

Service NSW is requiring businesses to reconfirm each fortnight their eligibility for JobSaver and the COVID-19 Micro-business Grant. In an update of its Common Questions, Service NSW said businesses must reconfirm their eligibility for each JobSaver payment at the end of each fortnight. While September payments will continue even if a business does not confirm eligibility, any payments after that…

Court finds super trustee mislead members about MySuper

The Federal Court has made declarations that Colonial First State Investments Limited (CFSIL), as trustee of the Colonial FirstChoice Fund, made false or misleading representations to members in relation to MySuper. CFSIL’s conduct was the subject of a case study by the Banking Royal Commission. The Court declared that on at least 12,978 occasions, CFSIL made misleading…