Legislation establishing the Australian Charities and Not-for-Profits Commission (ACNC) was passed by the Federal Parliament on 1 November 2012.
Arts Law advocates on behalf of arts organisations that support emerging and developing artists, the majority being not-for-profit organisations (NFPs). Arts Law recognises that NFPs occupy a vital place in Australia’s creative landscape and that their interests must be protected alongside public confidence in their activities. Arts Law advocates for clearer and more supportive regulatory frameworks for NFPs to ensure their development and accountability. Arts Law also lobbies the Australian Government for stronger and more efficient funding support and processes for NFPs.
In the 2011-12 Budget the Australian Government announced a range of measures reforming the Not-For-Profit (NFP) sector, including the creation of the Australian Charities and Not-For-Profits Commission (ACNC).
This information sheet provides an overview of the Australian Charities and Not-for-profits Commission (ACNC) and some of the consequences of the Australian Charities and Not-for-profit organisations Commission Act 2012 (Cth) (ACNC Act) for arts organisations that are ‘not-for-profit’ organisations that meet the legal definition of being a ‘charity’. The ACNC Act came into force on 3 December 2012.
This information sheet could be relevant to any institution or organisation that is a public library, public museum or public art gallery or an Indigenous Art Centre or any ‘not-for-profit’ organisation, where that institution or organisation satisfies the legal test of having a charitable purpose that is for the public benefit.In the 2011-12 Budget the Australian Government announced a range of measures reforming the Not-For-Profit (NFP) sector, including the creation of the Australian Charities and Not-For-Profits Commission (ACNC).
Arts Law made a submission in relation to an inquiry by the Commonwealth Treasury into financial reporting for unlisted public companies regarding financial report for not for profit (NFP) companies operating in the arts.