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Charities & Not-For-Profits Law in Australia

Monthly Archives: July 2012

AICD NFP Board and Chair Courses

Posted in General, Governance

Summary – Scholarships available for AICD course. We would like to inform you of an opportunity that may be of interest to you. Perpetual, one of Australia’s largest and most experienced managers of philanthropic trusts, is pleased to invite board members and chairs of charitable organisations to apply for scholarships through the Australian Scholarships Foundation…. Continue Reading

Draft Australian Charities and Not-For-Profits Commission Bill

Posted in Compliance, General, Governance, Tax Exemptions & DGR Status

Summary – The draft Australian Charities and Not-For-Profits Commission (ACNC) Bill has been released. The Assistant Treasurer, the Hon David Bradbury MP, has referred the draft ACNC legislation to the House of Representatives’ Standing Committee on Economics for an inquiry. The Minister released the Exposure Draft of the legislation and explanatory materials on 6 July… Continue Reading

California couple loses USD18 million over IRS form filling error

Posted in Compliance, Fundraising, General

Summary – California couple donated real estate worth USD18 million to a charity but their failure to complete the Internal Revenue Service (IRS) form correctly lead to their loss of the entire associated tax deductions. California couple, Joseph and Shirley Mohamed, donated real estate worth USD18 million to a charity in 2003 and 2004 but… Continue Reading

Company officers – Duty of Care obligations for those who have more than one job description

Posted in Compliance, General, Governance, Liability & Risk

Summary – The High Court has recently ruled on the obligations of company officers wearing two hats. The High Court has recently shed further light on the obligations of care and diligence in respect of company officers who occupy multiple roles. In the case of Peter James Shafron v Australian Securities & Investments Commission the… Continue Reading

Appointing an Officeholder as Executor – Avoiding Shifting Executorships

Posted in Fundraising, General

Summary – Care needs to be taken for gifts to charities and not-for-profit entities where an officeholder for the time is being appointed as executor. Often Will makers when leaving a substantial gift to a charity or not-for-profit entity wish to appoint an office holder in the organization as executor of the Will. Such an appointment was reviewed in… Continue Reading