The Retirement Villages Regulation 2009 NSW will be automatically repealed on 1 September 2017.

There has been a consultation process underway which has now been finalised and a new Regulation will come into force on and from 1 September 2017. Operators and residents should familiarise themselves with these changes.

The major changes that are proposed are as follows:

•  clarifying that repainting of external surfaces once every 10 years is capital maintenance;
•  requiring copies of a village’s insurance policy documents to be available to residents;
•  a new “average resident comparison figure” in the disclosure statement to facilitate more effective comparison between villages;
•  reducing the maximum amount payable for an operator’s legal and other expenses to $50.00;
•  adding new matters for which village rules can be created, including smoking in communal areas;
•  requiring clearer information in annual budgets around head office expenses;
•  lowering the maximum amount allocated for contingencies to $1.00;
•  prohibiting additional matters that cannot be financed by recurrent charges;
•  simplifying the process for allowing residents to hold office on a residents committee for longer than 3 years; and
•  allowing service of documents by electronic means.

We recommend that you familiarise yourselves with the draft Regulation.

The Regulatory Impact Statement may be helpful to you in understanding the proposed changes.

However, should you require any advice in relation to them, please do not hesitate to contact our office.

Bill d’Apice, Partner | +61 2 9233 9013 | wdapice@makdap.com.au

Summary – The Assistant Treasurer has issued a further Exposure Draft on proposed legislation restating and standardizing special conditions for tax concession charities including Map of Australiathe “In Australia” conditions.

The Assistant Treasurer has now released a further Exposure Draft of legislation restating and standardising special conditions for tax concession entities and, in particular, refining the “In Australia” special conditions.

Under the current law, tax concession charities and deductible gift recipients have different requirements concerning their obligations to operate “In Australia” to access tax concessions.

Continue Reading In Australia Tax Concession Requirements Reviewed

The Federal Government has been working on the reform of the Charities and Not-For-Profit sector arduously before the Christmas break.

The Government has recently released 4 discussion papers and drafts for comment and passed legislation on issues affecting Not-For-Profit organisations and Charities.

In particular, the Government has released:

  • a consultation paper reviewing Not-For-Profit governance arrangements (submissions due 20 January 2012);
  • an exposure draft of legislation to create the ACNC (submissions due 20 January 2012);
  • a draft tax ruling regarding the qualifying conditions for school building funds (submissions due 20 January 2012);
  • a discussion paper regarding the implementation design of the ACNC (submissions due 27 February 2012); and
  • has passed legislation changing the regulation of public ancillary funds.

We are expecting more consultation papers to be released during the summer break, with equally stringent timeframes for submissions to be lodged with the Government.

We also will be working arduously over the Christmas break reviewing these papers and considering submissions to be made to protect the interests of Charities and Not-For-Profit organisations.  We recommend that you consider lodging a submission in relation to these issues to protect your organisation’s interests.

While it would appear to make the term Christmas break a misnomer, we are happy to field any questions that you may have over this period if it helps you to prepare your submissions.  As our team is not in the office during this period until 11 January 2011, we suggest that you contact our offices and ask to be referred to us by mobile phone.

Have a wonderful festive season and look out for our seminar dealing with the major reforms which we expect to hold early in February 2012.