Former Prime Minister Tony Abbott said he would abolish the Australian Charities and Not-for-Profits Commission (ACNC). However, the Turnbull government has decided to keep the independent national regulator of charities. In a joint media release on 4 March 2016, the Minister for Social Services and the Minister for Small Business announced the retention of the ‘Australian Charities and Not-for-profits Commission’ (ACNC).
The Minister announced that the ACNC will be refocused to assist charities in becoming more efficient and improving their governance.
The Prime Minister’s Community Business Partnership supported the decision. The Partnership believes this decision is in Australia’s best interests and will ensure that the charitable sector is thriving. “The Government will continue to work with the ACNC, states and territories and the sector to identify areas where we can reduce the burden of red tape for charities and not-for-profit organisations.”
The plan to reduce red tape for charities was confirmed when the government announced that from 1 July 2016, Ancillary Funds (both private and public) registered with the ACNC, and exempt from income tax, can report directly to the ACNC rather than to the ATO.
Read the full media release here: http://christianporter.dss.gov.au/media-releases/retention-of-the-australian-charities-and-not-for-profits-commission
Contact Peter McNamara for practical legal advice about your not for profit organisation.