The Australian Government has a broad reform agenda for the not for profit (NFP) sector. In its 2011-12 Budget, the Government announced a number of measures as part of its commitment to drive major reforms in the NFP sector to:
- deliver smarter regulation;
- reduce red tape; and
- improve transparency and accountability within the sector.
This report provides information to the sector on the key action areas in the ACNC’s regulatory approach. While the issues discussed in this report broadly affect the NFP sector, it relates only to registered charities (including public benevolent institutions and health promotion charities) reflecting the initial regulatory focus of the ACNC. It is the Government’s intention that the ACNC’s regulatory responsibility will grow over time to cover other NFP entity types.
This report outlines the functions of the ACNC, issues raised in sector feedback, and the means by which the ACNC will address these concerns. It seeks to:
- assist charities to prepare for registration and reporting;
- ensure this important sector can continue to play a critical role in Australia’s future; and
- allow Australians to be confident that the sector is strong and viable.