Not-for-profit e-bulletin

 

ACNC releases draft regulations and standards

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Issued: 4 June 2013


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Draft ACNC Financial Reporting regulations released

In late December, the Government released draft financial reporting regulations for charities regulated by the ACNC. These draft regulations provide further detail on the financial reporting required by the ACNC, including transitional concessions.   Read more...

Draft ACNC Governance Standards Released

Under the new ACNC regime, all registered charities will be required to comply with various Governance Standards in order to retain their tax concessions. In late December, the Government released draft Governance Standards in a consultation paper, detailing the six key standards. The Governance Standards will apply from 1 July 2013.  Read more...

Preparing for NFP reforms

All charities should be preparing for the NFP reforms. Key actions needed include understanding their new financial reporting requirements, documenting the organisation's structure and documenting the basis for on-going entitlement to tax concessions. Saward Dawson can assist your charity to understand the reforms and the new financial reporting obligations. We can assist with documenting your compliance with current and impending tax concession conditions.

 

 

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Disclaimer: This publication has been prepared on the basis of information available at the date of preparation. The information is general in nature and is not to be taken as substitute for specific professional advice. We recommend that our advice be sought on specific issues prior to acting on transactions affected.