Image Credit - Salty Dingo Media, Griffith Prostate Cancer Support Group, 2023
This useful tool is fully compliant for organisations reporting the fair value of volunteering under the Australian Accounting Standard (AASB1058) Income of Not-for-Profit Entities.
The replacement cost of a volunteer is calculated using the average hourly part-time wage of a person of their age in their state of residence, plus 15% employer on-costs (inclusive of superannuation, payroll tax and administration expenses).
To use the calculator, simply enter the number of hours all volunteers work in your organisation by age range. If you are unsure of a volunteer’s age, enter their hours in the relevant “all ages” row.