At some point you may be able to download version 2 of our GetUp report: Creative Accounting Insight: GetUp’s Management of Profit and Tax 2019 , when I confirm GetUp has no basis to threaten me (again!) with a defamation suit.
For now, here is all the GetUp data we used in the analysis. It’s all hosted on this site, so no-one can take it down.
I suggest you start with the Financial Report for 2018 and examine Note 3.1 on page 18-19. The account restatement shows the transfer of $1.732m in deferred revenues to accumulated profits.
Then look at Note 6 Income Tax Expense on page 21. No tax paid on those transferred, newly-recognised profits. And none paid on profits made in 2018, either.
The Report explains these issues and more in incontrovertible detail. It will be up soon.
- GetUp Constitution July 2018
- ATO Tax Ruling IT2674
- ATO Private Ruling 1051418760887
- Accounting Standard AASB 118 Revenue
- Accounting Standard AASB 1004 Contributions
|GetUp AEC Pol
Donation Disclosure Yr