Saturday September 2012

ACNC

Summary – The legislation establishing the ACNC was not passed during the current session of Parliament.

Legislation to establish the Australian Charities and Not-For-Profits Commission (ACNC) has not yet been passed by both Houses of Parliament during its September session.  The Bills were passed in the House of Representatives on 18 September 2012

Mouth GagSummary – The Commonwealth Labor Government intends to ban gag clauses in Commonwealth contracts with Not-For-Profits.            

On 19 September 2012 the Commonwealth Labor Government announced its intention to introduce legislation to ban so-called “gag” clauses in Commonwealth contracts with the Not-For-Profit sector.

The introduction of legislation to expressly ban the use of gag clauses which are considered to censor public debate is a move which will no doubt be welcomed by the Not-For-Profit sector as a critical part of the current reform process and the strengthening of the independence of the Not-For-Profit sector in Australia.


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Tax TimeSummary – Public Ancillary Funds should lodge their Public Ancillary Fund Returns.

For those operating a Public Ancillary Fund, you may have received a notice from the ATO requesting that a Public Ancillary Fund Return be completed and submitted for the year ending 30 June 2012.

The requirements relating to Public Ancillary Fund Returns are set out in the Public Ancillary Fund Guidelines 2011.

The Return will require Public Ancillary Funds to provide an estimate of the market value of its assets as at 30 June 2012.


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