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ARTICLE · 09 OCTOBER 2013

NFP reform is here - are you ready?

Moore Australia
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This NFP Readiness Review program is designed to identify and manage risks that arise from the ACNC and NFP reforms.

AustraliaCorporate/Commercial Law
Joe Shannon
Joe Shannon
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Introduction and potential impacts

The introduction of the Australian Charities and Not-for-Profits Commission (ACNC) and related legislation is the most significant overhaul of the not-for-profit (NFP) sector since Federation. This, along with funding reforms such as Disability Care Australia and the National Plan for School Improvement, means that NFPs and in particular charities have significant change to deal with.

The ACNC commenced on 3rd December 2012, with the financial, governance and other reporting requirements taking effect from 1st July 2013. Whilst there are many potential benefits, non-compliance with the conditions can also have significant negative impacts including:

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