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This handbook is a collection of our writings which are sourced from our periodic Not-for-profit Newsletter published over the period May 2012 to June 2013 and concern the new charity and Not-for-profit sector law introduced by the Gillard Government being mainly the Commonwealth Australian Charities and Not-for-profits Commission Act 2013 ("the ACNC Act") and the opening of the Australian Charities and Not-for-profits Commission.
The legislators intended that the new ACNC Act would consolidate laws enacted Australia wide which concern the establishment, operation and termination of charities and not-for-profit entities.
Under the new law a central body called the Australian Charities and Not-for-profit Commission ('ACNC') was established to regulate the Charity and Not-for-profit sector and provide a central source for information concerning participants in the sector. So far, only charities need to comply. The ACNC Act will extend to other Not-for-profits some time in the future.
In our writings we have notified and informed our readers of the proposed changes to the proposed law as they were developed. Therefore we hope that this handbook will provide you with a useful reference to the reasoning behind various provisions contained in the ACNC Act and the sector's input during the development of particular provisions in the ACNC Act.
Whilst you are currently grappling with the new reporting requirements we will continue through our newsletters and reports to supply you with useful information and tips which we hope will assist you in ensuring your entity continues to satisfy the new laws.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
