The Bills – Australian Charities and Not-for-profits Commission Bill 2012 and Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill 2012 – were passed in the Senate on 31 October before proceeding to the House of Representatives on 1 November where they were also passed.

The ACNC taskforce will start to deliver service to Australian charities and the community in December.
Susan Pascoe, the Interim Commissioner and Head of the ACNC Implementation Taskforce says, “The team is already working on projects such as the classification of charities into 25 types and establishing working groups across government to streamline each of these types’ regulatory and reporting requirements.”

The passing of the Bills comes after the announcement that approximately 1,400 Australian charities will not be required to pay annual review fees. Many charitable organisations currently pay fees charged by the Australian Securities and Investments Commission (ASIC), but from 1 July 2013 the oversight of registered charities which are also corporations will move from ASIC to the ACNC. These charities will no longer pay annual ASIC fees and the ACNC will not be charging annual fees. The current annual fee for most charitable corporations that are registered with ASIC is $43, but for some it can be up to $1,086.

“Many of Australia’s prominent charities are companies limited by guarantee,” says Federal Assistant Treasurer David Bradbury.

“Removing annual fees for charitable corporations is another benefit that comes from having a dedicated national regulator for Australian charities.”

Third Sector is working with the ACNC to release a guide to help your not-for-profit organisation ensure it is ready for the ACNC’s implementation. Keep your eyes on www.thrdstaging.wpengine.com and Third Sector‘s Twitter page @ThirdSectorMag for more information.