18 September 2012

Finally, An Australian Charity Commission

But is it one that will do us any good?

The Australian Tax Office has been after one for years, I'm sure the more conscientious staff of the ATO have been in despair due to the blatant tax avoidance of the religious section of the charity sector for decades.

It looks that it will be for advise on setting up a Charity, and accepting reports from charities.

From the website:-

What's the latest on reporting?

Although the Australian Charities and Not-for-profits Commission (ACNC) legislation is still being finalised, it is expected that the following reporting obligations will apply.
For the 2012-13 reporting period, all registered charities will be expected to report basic information about their operations (non-financial only) (annual information statement).
For the 2013-14 reporting period onwards, registered charities will be expected to provide annual information statements, for:
  • small charities – report basic information about their operations and finances
  • medium and large charities –  report more detailed information (financial and non-financial) about their operations, including financial reports.
This two-stage approach follows from the 17 May 2012 announcement  from the Assistant Treasurer (The Hon. David Bradbury MP) and the Minister for Social Inclusion (The Hon. Mark Butler MP). It will allow more time for additional public consultation on the proposed financial reporting framework.
After the requirements are finalised, the ACNC will provide guidance about reporting obligations to help charities understand their obligations in a timely way.
I can't see anything about public information, only that the Government will see these reports.

Australian Charity Commission

“Doing nothing for others is the undoing of ourselves.” - Horace Mann

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