3 Top Updates For Clubs

Did you know about these top three recent updates for clubs?

Award Increases

The first pay period after 1 July 2023 resulted in pay increases under the Registered and Licenced Clubs Award. There was a minimum increase of 5.75%.

Also from 1 July 2023, the superannuation guarantee increased from 10.5% to 11%.

Please ensure that your Club has complied with these increases and a review has been conducted within your payroll system ensuring that rates have been updated accordingly.

Income Tax Exemption & Self-Assessment

Did you know that from 1 July 2024, clubs that self-assess as income tax-exempt will have to report the results of this assessment annually to the Australian Taxation Office? The requirement to annually review a club’s entitlement to income tax exemption hasn’t changed; however, notifying the ATO of the review outcome has.

Returns will be due for lodgement by 31 October 2024. In the meantime, clubs should continue to complete and file the ‘Income tax status review worksheet for self-assessing non-profit organisations’ form that is issued by the ATO in preparation for next year’s changes.

Club Gaming Code of Practice

The Club Gaming Code of Practice was released in March 2023 and requirements to commence from 1 July 2023. Keys items required include:

• Responsible Gambling Policy Statement
• Code of Practice Implementation Plan
• Clubs must nominate a Responsible Gambling Officer (RGO)
• Managers and all Directors must complete the Responsible Gambling Oversight Training within 12 months from appointment (other rules are in place for existing Directors and also for clubs with less than $1m in gaming machine revenue)

We strongly recommend that Management and the Board familiarise themselves with this Club Gaming Code of Practice immediately if not already done so.

Want help staying on top of your compliance? Speak to one of our Clubs Assurance Advisors today for a review of your business.