We are now registered with ASIC as the Formation Evaluation Society of Australia Ltd, and our details are:
- Name: Formation Evaluation Society of Australia Ltd
- Status: public company, limited by guarantee.
- Tax status: special purpose company,
- Day of commencement of registration: 19th August 2008. (Certificate of Incorporation here).
- ABN 74 132 811 726
- ACN 132811726
- TFN 887 035 187
- Industry Code (ANZSIC): 99994
- Postal Address: P.O. Box 7784, Cloisters Square, Perth, WA 6850, Australia.
- Registered office: Registered office: Moore Stephens, ‘Exchange tower’ Level 15, 2 The Esplanade, Perth WA
- Principal place of business: 40 Commercial Road, Shenton Park, WA 6008
- An ASIC Corporate Key was created for this company: 98508987 (24/12/2015). Previously: 10345761.
- Public officer: Nariman Nouri.
- Directors (3/2016): Wesley Emery, Zach John, Nariman Nouri, Callum Rideout, Martin Storey, Mike Walker. Secretary: Callum Rideout.
- FESAus Financial Year: from 1 July to 30 June of the following calendar year.
Some of the dates in this table are fixed by the law and hefty fees are incurred if we are late or forgetful!
|< 21-Jan:||Quarter 2 (Oct-Nov-Dec) superannuation due for our employee if not paid monthly.||Treasurer|
|< 28-Feb:||Quarter 2 (Oct-Nov-Dec) Installment Activity Statement due (http://www.ato.gov.au/print.asp?doc=/content/33150.htm) (form will arrive in our POBox)||Treasurer|
|< 28-Apr:||Quarter 3 (Jan-Feb-Mar) superannuation due for our employee if not paid monthly.||Treasurer|
|< 28-Apr:||Quarter 3 (Jan-Feb-Mar) activity statement due (http://www.ato.gov.au/print.asp?doc=/content/33150.htm) (form will arrive in our POBox)||Treasurer|
|< 28-Apr:||As of 2012, there is a new obligation to write to ASIC to confirm our status as a small company limited by guarantee – see section 7 below.||Directors / Secretary|
|Early Jun:||Present preliminary accounts to our accountant to confirm that they are acceptable (early June is a window of availability for the accountant).||Treasurer|
|30-Jun:||(Last day of FESAus financial year) ||(info)|
|1-Jul:||(First day of FESAus financial year)||(info)|
|~1-Jul:||Do a tax exemption self-assessment status review||Treasurer|
|< 28-Jul:||Quarter 4 (Apr-May-Jun) superannuation due for our employee if not paid monthly.||Treasurer|
|< 28-Jul:||Quarter 4 (Apr-May-Jun) activity statement due (http://www.ato.gov.au/print.asp?doc=/content/33150.htm) (form will arrive in our POBox)||Treasurer|
|< 31-Jul:||Give each employee an annual PAYG Payment Summary of the amount withheld from them during the year (formerly “Group certificate”).||Treasurer|
|< 31-Jul:||Provide an annual report to the Tax Office about withheld amounts. (The date is indicative only, it can be done any time after the end of the FY)||Treasurer|
|31-Jul-2012||Our Public Liability Insurance, now for a 10 million $ coverage, expires.||Secretary|
Financial Audit: Make contact with auditor to agree on when our audit will be done. Auditors’ busy period is July-August. Audit must be completed and filed with ATO by 31-Oct.
|30-Sep-2009||Our Workers’ Compensation insurance expires||Secretary|
|~1-Oct||Send out invitation for Company AGM||Secretary|
|<28-Oct:||Quarter 1 (Jul-Aug-Sep) superannuation due for our employee if not paid monthly.||Treasurer|
|<28-Oct:||Quarter 1 (Jul-Aug-Sep) activity statement due (http://www.ato.gov.au/print.asp?doc=/content/33150.htm) (form will arrive in our POBox)||Treasurer|
Form 388 needs to be lodged with ASIC, inc. audited copy of financial statements and reports. (within 4 months after end of FY). However, as of 2010, we no longer need to do this as long as our turnover is <250K$: we can simply email or fax to ASCI to notify them that we are a small company limited by guarantee – or we can wait to be contacted by them at which point we fill in a form to confirm that we are a small company limited by guarantee (source: P. Bright phone conversation with ASIC, 29-Jul-2011)
|<30-Nov||Must have had our AGM (within 5 months after end of FY).||President|
|<31-Dec||Send out invitation to renew membership to all members who have not renewed already||Membership / Sectretary|
|Every month:||Pay our employees (http://www.ato.gov.au/individuals/content.asp?doc=/content/33277.htm&mnu=44522&mfp=001/004)||Treasurer|
|Every month:||Pay Super contribution for our employees to their respective superannuation fund (http://calculators.ato.gov.au/SGCalculatorWeb/GetSGContribution.aspx)|
Send a remittance advice to employees.
|Every month:||Reconcile each of the bank accounts and the cash account. ||Treasurer|
|Every year:||Need Workers’ Compensation insurance (if we employ anyone).||President|
|Every year:||Tax exemption self-assessment: http://www.ato.gov.au/nonprofit/content.asp?doc=/content/33868.htmhttp://www.ato.gov.au/nonprofit/content.asp?doc=/content/34269.htm + make an entry in the log of status reviews.||Treasurer|
|One off:||Once the company is incorporated, the old association will needs to be deregistered for its Australian Business Number and lodge a final income tax return with ATO and cancel the Tax File Number once the final income tax return is assessed. ||Treasurer|
|One off:|| Formalize “Delegation of Authority” by including it either in Constitution or in Company File (reference in by-laws?). ||Directors|
|Every change||to company details e.g. for change in address, name of officeholder, shareholding, etc. we need to lodge a Form 484 within 28 days. Hefty fees apply if we don’t.||President|
|Continuously||Maintain an up-to-date Corporate File, including, among other items:||Treasurer / Secretary|
- Role of company officeholders: documented in this letter from ASIC.
- Tax basics: http://www.ato.gov.au/nonprofit/content.asp?doc=/content/33589.htm
- General reference: ASIC\INC A Guide for Incorporated Associations 19 June 2008.pdf
- “A non-profit organisation can still make a profit, but this profit must be used to carry out its purposes and must not be distributed to owners, members or other private people.” (from http://www.ato.gov.au/nonprofit/content.asp?doc=/content/33732.htm)
- Requirement for Workers’ Compenstation Insurance: FESAus has Workers’ Compensation Insurance with Zurich to cover its (waged) employees. The insurance policy can be seen here. (ref: http://www.workcover.wa.gov.au/NR/rdonlyres/618A028B-C22E-4164-87E0-616C7B7D4E4B/0/ImportantInfoforEmployers.pdf)
- As an employer, FESAus is required by law to have an Injury Management System, which describes the steps to be followed if a workplace injury occurs. It must be in writing and available to any employee on request. Download the FESAus Injury Management System.
- In addition to the FESAus Injury Management System, FESAus as an employer is required to have a policy setting out its approach to injury management. Download the FESAus Injury Management Policy.
- In case of accident, FESAus as an employer is also required to provide a written return to work program if the treating medical practitioner states in writing that one is appropriate. A template for a Return To Work Program Template can be downloaded here.
Our Corporate File was originally kept by our accountant, Katherine Kok of Katherine and Associates, but as of early 2012, it is kept by Martin Storey, one of our Committee Members. For convenient reference, we keep a complete digital copy on the website. It has the following sections and content:
- Other forms of relevance: (all government forms are here: http://govsearch.australia.gov.au/search/search.cgi?collection=gov_combined or here http://www.asic.gov.au/asic/asic.nsf/asic+formsw?readform)
- Form 484: “Change to Company Details” e.g. for change in address, name of officeholder, shareholding, etc. (downloaded Nov. 2014 from http://www.asic.gov.au/regulatory-resources/forms/forms-folder/484-changes-to-company-details-for-australian-companies/).
- About tax exemption: http://www.ato.gov.au/nonprofit/content.asp?doc=/content/8555.htm&page=3&pc=&mnu=28532&mfp=001/004&st=&cy=#P35_1680 or see this.
Goods and Services Tax registration (GST)
FESAus was registered for GST on 28-Jul-2011 effective that day, by director Pete Bright calling ATO (on 132866, options 2/2/2) and talking to Ms. Kate Foster. We had planned to register as of 1-Aug-2011, which we had been told was possible, but when it came to doing it, ATO couldn’t do it after all. Our reporting obligations are quarterly, using the cash method (this means we pay our GST after receiving income, rather than paying when we submit an invoice). We will receive a confirmation letter within 5 days.
From the ATO website:
Being registered for GST means that your organisation:
• must pay the GST it has collected from its sales to the Tax Office
• can claim GST credits for any GST included in the price of its business purchases, and
• must complete an activity statement to report the taxable sales and claim GST credits.
If your organisation is not registered for GST, it will need to look at its GST turnover each month to make sure its turnover is not $150,000 or more. Your organisation’s GST turnover is $150,000 or more if its:
• turnover for the current month and the previous 11 months is $150,000 or more, or
• turnover for the current month and the next 11 months is likely to be $150,000 or more.
Generally, if your organisation’s turnover is $150,000 or more, it must register for GST within 21 days of the GST turnover meeting the $150,000 GST registration threshold.
To register for GST your organisation needs to complete an application form.
Before your organisation can register for GST it must have an ABN.
The word “member” is used for two distinct concepts, and the following terminology is proposed to minimize confusion:
- Member in the ASIC sense, being the people directly acting to steer the Society. It is proposed to call these “ASIC members”, and that they be the FESAus Committee members.
- Member in the historical FESAus sense, being the people who joined the Society and are up-to-date with their membership dues. These could be referred to also as “associates” or “affiliates”, but it is proposed to call them “Society members” or “FESAus members”.
- In addition, we also have people who are on our mailing list but are neither ASIC nor FESAus members. It is proposed to call these “friends” or “FESAus friends”.
- Some of the information collected will be available to the public on www.abr.business.gov.au.
- Our accountant:
Katherine Kok of Katherine & Associates
Chartered Accountant. Registered Tax Agent
Level 1, 544 Hay Street, Perth WA 6000 / P O Box Z5278, PERTH ST GEORGES TCE WA 6831
Tel: + 618 9221 2928 Fax: + 618 9221 2939 Mob: 0413 201 886 Email: firstname.lastname@example.org
Compiled by Martin Storey on 12-Sep-2008, last updated by Martin Storey on 12-Dec-2012.