- ACNC commences 1 October 2012 (assuming its legislation is passed)
- ACNC applies only to Charities (not to all Not for Profits for the next couple of years at least)
- Registration of existing Charities is automatic
- Registration is optional, but not if you want to keep your tax concessions
- From 1 October 2012 new Charities first register with the ACNC (then the ATO)
- ACNC Public Information Portal will go live from 1 July 2013
- ACNC Financial Reporting required from 1 July 2014
- ACNC new Governance arrangements (requirements) to be effective from 1 July 2013
- New Statutory definition of Charity from 1 July 2013
- UBIT to be still be effective from Budget night 2011
There’s more … see our Legal Resource Centre – Charity & NFP Reform summary page and detailed articles.
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