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AGM delayed until next year

Submitted by coordinator on 12 September, 2013 - 12:05

The co-op’s Annual General Meeting (AGM) is usually held towards the end of November. But not this year. In fact, we can’t.  Why there’s no AGM this year. The Auditor’s Report — essentially the state of our finances — must be presented to the AGM for approval. However, our new auditors are unable to sign off on the report because they don’t know our tax status and whether we are liable for income tax. We also don’t know our tax file number nor who is our ATO contact. It’s a bit of a mess, a product of problems with our accounts dating back many years, but also because it has probably long been assumed Alfalfa House was exempt from income tax.