A bill proposing repeal of the Australian Charities and
Not-for-profits Commission Act 2012, and thus abolishing the ACNC,
was tabled in Parliament In March this year. The bill also proposes
transitional arrangements relating to a successor agency for the
ACNC. On 27 March the bill was referred to the Senate Standing
Committee on Economics.
Submissions to the Committee closed on 2 May and it is due to
report on 16 June.
Moore Stephens made a submission to the committee highlighting
concerns with the number of aspects of the current ACNC legislative
framework including in respect to:
The financial reporting framework, timelines and size
Recognising the limited 'public interest' in the
financial affairs of many charities and particularly for religious
Impacts of achieving harmonisation of reporting across
jurisdictions and government departments;
Understanding of the size, structures and complexity of sector
Insufficient transition arrangements contained in the 2012
Balancing the costs of compliance with the 'public
interest' in their financial affairs.
Moore Stephens continues to support the 'one-stop-shop'
framework envisaged in a single national regulator that works
effectively with the sector and addresses accountability for
charities in receipt of public funds while at the same time working
to minimise duplication and harmonise requirements across
jurisdictions and government departments within a 'report-once,
If our concerns are addressed we continue to see a restructured
ACNC framework as one that could assist greatly in enhancing the
sector's role within our national economy and civil
We have seen huge strides made within the last 20 years in a
greater professionalization of the sector. The establishment of a
national regulator, including streamlining and harmonising
requirements, could be seen as a key part of further enhancing this
journey. We see this as one of the principal reasons for its
significant support across the sector to date. Given achievement of
the underlying objectives, some further restructuring might provide
the broad support necessary
If you would like to discuss our submission or any of your
organisations requirements please contact the writer or your Moore
Stephens relationship partner.
On 12th November 2016, new laws will commence to protect small businesses from unfair terms in standard form contracts.
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