Australian Charities and Not-for-profits Commission (ACNC) Exposure Draft Legislation and Explanatory Materials
Date published :
12
December
2011
The Government announced in the 2011-12 Budget that it would
establish the ACNC to register not-for-profit (NFP) entities and
administer a regulatory and reporting framework for the NFP
sector.
The Government has today released exposure draft legislation and
explanatory materials for the establishment of the ACNC. These
exposure draft materials provide an opportunity for the NFP sector
and the wider public to comment on the draft legislation and
details of the proposed ACNC.
Attached is an ACNC Overview factsheet which outlines the exposure
draft consultation process and details the other factsheets
available to provide readers with a broad understanding of the
exposure draft legislation and the explanatory materials.
The exposure draft legislation, explanatory materials and
related factsheets are available from Treasury's NFP reform website
at www.treasury.gov.au<http://www.treasury.gov.au>.
We would also be happy to discuss any issues which you may have in
this area.
Please note that submissions on the exposure draft materials close
on 20 January 2012. Treasury recognises that this is a very tight
timeframe, however, the ACNC will be starting from 1 July
2012, so in order for the necessary components to be in place and
up and running by 1 July 2012, legislation for the ACNC needs to be
ready to be introduced into Parliament in the first quarter of
2012.
A discussion paper has also been released by the Implementation
Taskforce for the ACNC, which seeks feedback on the design and
implementation of the new reporting framework for charities that
will be administered by the ACNC and is a central platform for the
Government's vision of 'report-once use-often' reporting for the
NFP sector. Consultation on the discussion paper closes on
27 February 2012 and the discussion paper can be found at http://acnctaskforce.treasury.gov.au.
If you have any questions on the ACNC exposure draft or explanatory
materials, please contact Chris Leggett on (02) 6263 3357 or Tamara
Hartwich on (02) 6263 2514.
If you have any questions on the discussion paper, please contact
Stephanie Isaacson on (02) 6263 3352.
Download and view the factsheet here
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