Australian Charities and Not-for-Profits Commission

The ACNC will commence on 1 October 2012. Its main aims are to promote good governance, transparency and accountability to donors, to governments and the public generally, and to minimise regulatory duplication.

The ACNC will provide:

• a one stop shop for reporting: ie it will be the sole determiner of charitable, public benevolent institution, and other not-for-profit status for all Australian Government purposes
• a register of charities in lieu of ATO endorsement,
• a searchable portal with information on entitles including financial reports (not to operate until 1 July 2013),
• an independent commissioner,
• an advisory board, and
• obligatory annual reporting statements.