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The ACNC would be replaced by a National Centre for Excellence, but there is still much uncertainty about the details.

ACNC details to come include governance standards, financial reporting and annual information statement requirements.

Trustees and persons involved in a PAF or PubAF should immediately review the exposure draft of the proposed amendments.

APRA has made a number of proposals that affect current exemption orders for religious and charitable funds.

Bulk lodgement will allow multiple registered charities to consolidate all of their AIS reports onto a single form.

The new regime for charities in Australia is a major step closer to being implemented.

Some recent matters of interest to Community & Associations.

As of 1 July 2023, self-assessing not-for-profits (NFPs) will be required to file an annual report with the ATO.

Transcript & link to video discussing the differences between not-for-profits & charities & why those differences matter.

The new draft Tax Ruling TR 2014/D5 has proposed two new special conditions that any tax exempt entity must meet.

Charities should consider new technologies and financial models, and a working relationship with government and business.

This position is similar in Australia - charities have a basic duty not to be involved in any party-political campaigns.

A PAF is a private philanthropic vehicle established and operated by a high net worth individual or family.

There have been a number of recent announcements about the important objective of the reform agenda to reduce red tape.

New legislation will require registered charities to take all reasonable steps to become a participating institution.

The new recommendations embrace a suite of changes which aim to improve support provided to charities.

Private and public ancillary funds are efficient, low cost and tax effective structures for charitable giving.