New Federal Minister for Social Services, Scott Morrison, has stated that abolishing the Australian Charities and Not-for-profits Commission (ACNC) is not now a priority.
This is a decisive policy shift away from his predecessor, and, although it does not mean that the ACNC is here to stay, it at least appears to be a move in that direction.
This has been welcomed by the many stakeholders in the not-for profit sector including the Community Council for Australia and the Governance Institute, an independent professional association with a sole focus on the practice of governance.
Judith Fox, Director of Policy at the Governance Institute, noted that the ACNC has been successful in lifting accountability and governance standards.
While the ACNC remains, entities registered with it should continue to comply with the relevant requirements, including lodgement of annual information statements. Most entities with tax endorsements will need to be or remain registered with the ACNC to continue to receive the benefit of such endorsements until legislation is otherwise introduced.
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