Introduction
In this episode, we take a closer look at the obligation for organisations and branches to lodge an Officer and related-party disclosure (ORP) statement.
Content
Since this requirement came into effect in 2018, we've consulted with registered organisations to provide tailored advice about how to prepare the ORP statement in compliance with the Fair Work (Registered Organisations) Act 2009 (the RO Act). In this episode we have 3 members of our staff who are directly involved in assessing ORP statements.
We identify common areas of non-compliance and answer the frequently asked questions.
ROCpod was a monthly podcast created by the Registered Organisations Commission, which is now abolished. The obligations for registered organisations remain unchanged, with the functions transferred to the Fair Work Commission as the regulator from 6 March 2023. If you need further information please contact the Fair Work Commission on 1300 341 665 or email [email protected].
Episode 7: Demystifying the ORP statement
Content
Episode highlights
02:00 Summary of the ORP statement requirements
04:45 The ROC’s template
06:00 The concept of ‘relevant remuneration’
14:00 Non-cash benefits and how to value them
17:00 Payments to related parties and the legislative exemptions
20:30 Payments to declared persons or bodies
24:30 Episode summary
Disclaimer
ROCpod was the official podcast of the Registered Organisations Commission. It is copyright to the Commonwealth of Australia. The opinions expressed in ROCpod are the opinions of the particular speaker and not necessarily the opinions of the regulator.
This information is general and is not intended to be comprehensive, it is designed to assist in gaining an understanding of the relevant provisions of the legislation, the regulator and its work. The regulator is not able to provide legal or accounting advice.
For further information please see the registered organisations materials on our website or contact us at [email protected].