Tag Archives: not for profit

ACNC Review well underway

The ACNC celebrated its fifth birthday in December 2017.  As provided for in the original legislation, the Government is now conducting a review, the terms of reference indicating that it should: Examine the extent to which the objects of the … Continue reading

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ACNC extends transitional reporting

When the ACNC was introduced, transitional arrangements were put in place to allow the ACNC to accept reports prepared for the state regulators for two years. This allowed charities that were also preparing financial accounts for Consumer Affairs, for instance, to lodge … Continue reading

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ACNC here to stay

A little more certainty has been provided to the charities today with the announcement that the Government will retain the Australian Charities and Not-for-profit Commission (ACNC).   A recently released report commissioned by the ACNC indicates that cutting unnecessary or inefficient regulation could save … Continue reading

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Survey provides a snapshot of Not-For-Profits

The Institute of Community Directors recently released its findings from a survey of 845 not-for-profit organisations. The survey was designed to obtain insights into financial management within the sector including funding, banking, risk management and governance. The full report is … Continue reading

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MyCAV for Incorporated Associations

Consumer Affairs Victoria has just launched a new portal (myCAV) for lots of association admin tasks such as updates to details, lodging of financials.  Everything including applications to become incorporated but not amalgamation, requests for extensions and winding up.  There … Continue reading

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Bill to Abolish the ACNC

  The Coalition Government made a pre-election promise to abolish the ACNC.  To this end, in March, the first of two bills was tabled.  This first bill is designed to abolish the ACNC legislation, but will take effect only when a second bill, establishing … Continue reading

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New “In Australia” Draft

The third re-draft of the “In Australia” provisions has been released by Treasury for consulation. The draft retains the subjective requirement to operate and pursue purposes in Australia, as well as the exemption for prescribed organisations. However for organisations hoping … Continue reading

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Statutory Definition of

A bill defining “charity” passed through the Australian Senate last night. Up until now, “charity” has been defined by 400 years of court decisions so this is a significant development for the not-for-profit sector.

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