Legislation establishing the Australian Charities and Not-for-Profits Commission (ACNC) was passed by the Federal Parliament on 1 November 2012. The official start date for the ACNC will be released soon.
As mentioned in an earlier Arts Law news item, the ACNC will be an independent regulator of the Not-for-Profit sector and from December 2012 will:
- determine the status of Australian charities and public benevolent institutions
- provide for registration of Australian charities
- implement a 'report-once-use-often' reporting framework
- provide education and support to the sector, including a publicly searchable Information Portal.