ATO and ACNC collaborate for change
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The Australian Taxation Office (ATO) and the Australian Charities and Not-for-profits Commission (ACNC) are working together to reduce administrative burden on charities, recently announcing that ancillary funds registered as charities now only need to report once.
“Ancillary funds were previously required to report their annual return to both the ATO and the ACNC,” said ACNC Commissioner Susan Pascoe.
“By collaborating with the ATO, we’re ensuring that ancillary funds only need to report once using the ACNC’s online Annual Information Statement. We will then share the information they collect with the ATO,” she said.
With a joint focus on strengthening the sector, the two regulators will continue to work closely together to facilitate positive change.
Pascoe said that by working together, the ATO and the ACNC will save around 3000 charities from duplicative reporting obligations each year.
“Additionally, I am granting an extension of time for ancillary funds to complete their 2016 Annual Information Statement to align with the fund return deadline of 28 February 2017,” said Pascoe.
“The ACNC is committed to reducing red tape for charities. This is just one of the initiatives we have undertaken to reduce unnecessary obligations on the Australian not-for-profit sector.”
The ATO’s Assistant Commissioner Martin Jacobs described the reduction in reporting as an excellent outcome.
“Charities provide vital services to the community and our efforts to harmonise reporting requirements with the ACNC make it easier for them to meet their obligations and continue on with their important work,” said Jacobs.
“There are around 300 ancillary funds that are not registered as charities and those organisations must continue reporting to the ATO using the Ancillary Fund Return form available on ato.gov.au.”
The ATO has developed a blueprint for change, which focusses on making every year count for its not-for-profit clients.
