10.2. Supporters Club Financial Management

Financial management is a process of planning, organising, directing, and controlling your financial resources to achieve its financial goals and objectives effectively and efficiently. It involves making informed financial decisions, allocating resources, and managing financial risks to ensure the long-term financial sustainability and success.

Please see chapter 8 Financial Management

Donations and Payments by SLSQ Supporters Clubs – Income Tax and GST Considerations

Club Leases & Sub Leases

• Most SLSCs lease their premises from State or local government. They then sub-lease a designated area to their Supporters Club.
• There are a variety of lease documents in place between Surf Life Saving Clubs and Supporters Clubs with wide ranging structures and requirements with respect to rent and donations.
• Some of those structures, particularly where the lease requires the Supporters Club to make a donation to the Surf Life Saving Club, may give rise to GST and income tax deductibility issues.

Action Required

• Clubs should review the lease agreement between the Surf Life Saving Club and the Supporters Club for a clause that requires a donation to be made by the Supporters Club to the SLSC.
  • If there is no clause requiring a donation then no further action is required.
  • If there is a clause requiring a donation then refer to Point 3.

Recommendation

• As SLSQ is only able to provide general guidance given each club’s arrangement and circumstances are unique, we are not able to provide specific advice.
• As such If your lease includes a clause regarding donations (particularly where a donation is required i.e. it is not voluntary) then SLSQ suggests the club talk to its auditor or tax agent for further advice.