On 12 June 2012, the Australian Charities and Not-for-Profits
Commission Implementation Taskforce released an 'Implementation
Report' outlining the process for the establishment of the
Australian Charities and Not-for-Profits Commission (ACNC). The
report is the result of consultations with the sector and provides
an outline of the key action areas in the regulatory approach of
Charities and not-for-profits should review the content of the
report to familiarise themselves with the key areas of the
ACNC's regulatory approach. The ACNC is planned to commence
operations on 1 October 2012.
The media release and report may be accessed
Key Action Areas
The five key action areas underpinning the functions of the ACNC
1. Registering entities
The ACNC will register entities as registered charities. The ATO
retains the role of assessing access to tax concessions but must
accept the ACNC's determination of charitable status.
2. Developing a reporting framework
Charities will lodge annual information statements from 1 July
2013 for the 2012-2013 year. The first annual information statement
will collect non-financial information only.
The ACNC will also develop and implement a charity passport
comprising a set of data that charities report once to the ACNC to
meet the basic corporate and financial reporting requirements of
Australian Government agencies. This data will be electronically
available to authorised Commonwealth Government agencies on a
confidential basis through the ACNC information portal and is
intended to reduce red tape.
Charities will need to continue to meet current state and
territory financial reporting requirements.
3. Going online: Public information portal
The public information portal will be accessible via the ACNC
website by July 2013. Charities will be able to update their own
information, such as changes to officeholders, and submit their
annual information statements and governing rules. The public will
be able to search the public information portal for details about
charities including governance structures, purposes, activities,
contact details and annual reporting information.
The public information portal will also enable users to search
on the activities of a particular charity and details on a range of
similar charities and their collective impact.
4. Guidance and education for the sector and the public
The ACNC will provide guidance material on its website to ensure
that charities understand their obligations. The release of some
guidance materials will be released before 1 October 2012.
Additional materials about registration will be added to the
website in time for the commencement of the ACNC on 1 October 2012,
and material will be available prior to the reporting period for
the first annual information statement.
There will be a clear demarcation between the ATO and ACNC
guidance material to reflect their respective roles.
5. Engagement strategy with stakeholders
The ACNC proposes to establish regular meetings with key
stakeholders to provide a vehicle for the sector to raise matters
with the regulator and for the regulator to seek sector views. The
ACNC Advisory Board also proposes to meet in major centres across
Australia and conduct community forums to provide an opportunity
for the broader community to engage with the ACNC. The ACNC also
proposes a phone advisory service as part of its guidance and
education activities so that charities and members of the community
can seek general advice or raise concerns.
On 12th November 2016, new laws will commence to protect small businesses from unfair terms in standard form contracts.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).