Take Survey
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Leadership

ACNC Regulator? What Now?


Tuesday, 4th December 2012 at 8:56 am
Staff Reporter
Although the title of the ACNC legislation extends to charities and Not for Profits, at this stage the regulator only covers ‘charities’, says Sydney-based law firm Makinson & d'Apice.

Tuesday, 4th December 2012
at 8:56 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
ACNC Regulator? What Now?
Tuesday, 4th December 2012 at 8:56 am

Although the title of the ACNC legislation extends to charities and Not for Profits, at this stage the regulator only covers ‘charities’, says Sydney-based law firm Makinson & d'Apice.

The legal experts say there is the possibility for Not for Profits (who are not charities) being regulated under the ACNC Acts at a later stage.

It says until a statutory definition of charity has been finalised (with a briefing paper expected early in 2013 and the definition likely to take effect on July 1, 2013) a ‘charity’ will be understood to encompass organisations for: the relief of poverty, advancement of education, advancement of religion and other purposes beneficial to the community (including childcare, self-help and contemplative orders).

“In other words, the existing common law interpretation of what constitutes a charity will continue to apply until 1 July 2013,” Makinson & d'Apice Partner Bill d’Apice said.

“Registration with the ACNC is voluntary. If your charity has been automatically registered you have 6 months to opt-out. However, registration will be a necessary prerequisite for charities to access Commonwealth tax concessions and other concessions, exemptions and benefits."

The law firm says there are a number of steps its recommends for charities wanting to be registered:

  1. Check that your organisation has been automatically registered;
  2. Check that the correct registration sub-type has been applied;
  3. Confirm whether basic religious charity status should be applied;
  4. Apply for a substituted accounting period (if you do not wish to report in accordance with the financial year);
  5. Apply for registration, if your organisation has been self assessing (e.g. religious institutions);
  6. Familiarise yourself with your new obligations such as the duty to notify the ACNC of changes and the new obligations on directors; and
  7. Check your operational and financial records are in order as these may be checked at any time

More information is available on the ACNC website or call13 ACNC.




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

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



YOU MAY ALSO LIKE

Possible Backlash Caused by Planned Changes to Charities Act

Luke Michael

Friday, 14th December 2018 at 4:13 pm

Australian Aid Review Uncovers Abuse in Sector

Maggie Coggan

Thursday, 22nd November 2018 at 8:42 am

Drought Charities Welcome ACNC Probe Following Online Abuse

Luke Michael

Wednesday, 7th November 2018 at 5:33 pm

POPULAR

NDIS Service Providers Cautious Over Complex Needs Pricing Shake-Up

Maggie Coggan

Monday, 10th December 2018 at 5:11 pm

Australians With Disability Twice as Likely to be Evicted Without Cause

Luke Michael

Wednesday, 5th December 2018 at 5:29 pm

SA Urged to Embrace Co-Op Model to Fix Aged Care and Disability Worker Shortages

Luke Michael

Wednesday, 5th December 2018 at 8:37 am

Glyn Davis Confirmed as New Head of the Ramsay Foundation

Maggie Coggan

Wednesday, 5th December 2018 at 6:00 pm

Take Survey
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!