Good 360
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Leadership

ASIC Fees Removed for Charities


Thursday, 25th October 2012 at 8:56 am
Staff Reporter
Under the new charity regulator, the ACNC, charities registered as corporations will not have to pay the annual review fees currently charged by the Australian Securities and Investments Commission (ASIC).

Thursday, 25th October 2012
at 8:56 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
ASIC Fees Removed for Charities
Thursday, 25th October 2012 at 8:56 am

Under the new charity regulator, the ACNC, charities registered as corporations will not have to pay the annual review fees currently charged by the Australian Securities and Investments Commission (ASIC).

On July 1, 2013 the oversight of registered charities which are corporations will move from ASIC to the ACNC.

“These charities will no longer have to pay annual ASIC fees, and the ACNC will not be charging annual fees," the Assistant Treasurer David Bradbury said.

"Many of Australia's prominent charities are companies limited by guarantee. Removing annual fees for charitable corporations is another benefit that comes from having a dedicated national regulator for Australian charities.”

The current annual fee for most charitable corporations that are registered with ASIC is $43, but for some it can be up to $1,086.

It is estimated that around 1,400 charities will benefit from the removal of ASIC annual fees.

The planned start date of the ACNC was expected to be October 1, 2012. However delays to the passage of legislation through Federal Parliament means the ACNC will not open its doors until late November or December.

Debate is not expected to resume on the Senate until October 29. 



FEATURED SUPPLIERS


...


HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

Yes we’re lawyers, but we do a lot more....

Moores

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Australians Want to Hear the Voices of Charities – Politicians Take Note

David Crosbie

Thursday, 23rd November 2017 at 8:48 am

Australian Trust in Charities Still High But Dropping: New ACNC Report

Lina Caneva

Wednesday, 22nd November 2017 at 2:31 pm

Philanthropist Susan Alberti AC Named Melburnian of the Year

Wendy Williams

Tuesday, 21st November 2017 at 9:17 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

POPULAR

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Adelaide at the Vanguard of Ending Street Homelessness Globally

Wendy Williams

Tuesday, 21st November 2017 at 8:43 am

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Good 360
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!