On 24 October 2011, the Australian Charities and Not-for-Profits
Commission (ACNC) Implementation Taskforce
launched a new website including updates on the reform process. In
the May 2011 announcements for the 2011-12 Federal Budget, it was
announced that the ACNC would be established to operate from 1 July
2012. A newsletter was also recently released by Treasury (
click here to view) showing a timeline of the reforms
The ACNC Implementation Taskforce website can be accessed here.
A number of significant developments can be identified from the
material on the website, and stimulus papers have been released for
discussion to establish frameworks for the next stage of
General Governance Reporting From 1 July 2012,
charities and not-for-profit organisations will be required to
report governance and non-financial information to the ACNC,
including annual reporting from 1 July 2013.
Financial Reporting From 1 July 2013, charities
and not-for-profit organisations will be required to provide
financial reports about their activities.
Education and Advice From 1 July 2012,
charities and not-for-profit organisations will be able to access
education and guidance from the ACNC.
Consultation Timeline Following discussion
roundtables, a discussion paper on key ACNC priorities is to be
released on 30 November 2011, with submissions to be provided by 27
Implications for Charities and Not-For-Profits
Currently, the ATO in its function as administrator of tax
concessions determines the charitable status of organisations
seeking to access concessions. From 1 July 2012, the ACNC will be
responsible for determining the charitable and public benevolent
institution status for all Commonwealth purposes, with the effect
that the registration function is removed from the ATO.
The ACNC taskforce has provided a list of expected benefits (click here to view) for the NFP sector arising
out of the establishment of the ACNC.
In addition to considering the strategic and operational
implications of the benefits identified, charities and
not-for-profits should also consider the implications upon their
activities, fundraising efforts and governance of having their
financial and governance information readily accessible by the
general public. The increased public scrutiny that is likely to
result means that charities and not-for-profits will need to review
and assess whether their internal governance and financial
processes are in order to ensure that reputational risks are
Gadens Lawyers is monitoring the ongoing
dialogue and discussion as to the reforms affecting this sector. We
can assist charitable and not-for-profit organisations to navigate
For more information, please contact:
This report does not comprise legal advice and neither
Gadens Lawyers nor the authors accept any responsibility for
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