Over the past 12 months we have been releasing Not for Profit Alerts in relation to the significant reforms proposed by the Federal Government as outlined in a number of Exposure Draft Bills and Consultation Papers.
With the number of reform proposals currently in the pipeline many of our clients have been recently asking us where these reform proposals are up to. To summarise the current position we have attached a paper outlining the stage of each of these proposals as well as the proposed timeline for their commencement. This summary is based on the initial Exposure Draft Bill for the establishment of the Australian Charities and Not-for-profit Commission (ACNC) and other Government Consultation Papers.
The Federal Treasury Forward Work Program indicates that a 2nd Exposure Draft Bill for the establishment of the ACNC was due to be released on 27 June 2012 with the draft regulations to be released on 18 July 2012. To date we have not seen the release of these documents. We understand that their release is imminent and we look forward to the revised proposals addressing many of the concerns raised in our earlier submissions. We will provide a further update on the release of these amended proposals.
Please click here to access the current status of the various aspects of this NFP Reform Journey.
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