The Coalition Government has issued its Options Paper of the Replacement of the ACNC. It does not really propose “options” but a brief road map of their intentions post their intended abolition of the ACNC including:
- Charities self-reporting (on their own web sites) about Responsible Persons; Government Grants and Financial Reports, with small Charities (under $250K) and Basic religious Charities to be exempted from Financial Reporting. The ATO would be the regulator.
- The ATO determining Charitable status.
- Compliance returning the ATO, ASIC (for companies limited by guarantee) and Offices of Fair Trading.
- Changes not to commence before 1 July 2015.
We expect to see more detail accompanying Repeal Bill No 2 later this calendar year.
For more information or to have your say (before 20 August 2014) follow this link. Andrew Lind in his role as Deputy Chair of the Queensland Law Society Not for Profit Law Committee attended the DSS Brisbane Consultation and has written the submission to be made by the Queensland Law Society. We encourage you to have your say and also let your Federal Politicians (especially the PUP Senators) know what your view is. Your submission need not be long. A page or two might be all that is required. We can certainly assist in reviewing and having some input into your proposed submission.