ACNC – Australian Charities & Not for Profits Commission – top 10 things to know

 

  1. ACNC commences 1 October 2012 (assuming its legislation is passed)
  2. ACNC applies only to Charities (not to all Not for Profits for the next couple of years at least)
  3. Registration of existing Charities is automatic
  4. Registration is optional, but not if you want to keep your tax concessions
  5. From 1 October 2012 new Charities first register with the ACNC (then the ATO)
  6. ACNC Public Information Portal will go live from 1 July 2013
  7. ACNC Financial Reporting required from 1 July 2014
  8. ACNC new Governance arrangements (requirements) to be effective from 1 July      2013
  9. New Statutory definition of Charity from 1 July 2013
  10. UBIT to be still be effective from Budget night 2011

There’s more … see our Legal Resource CentreCharity & NFP Reform summary page and detailed articles.

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