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Australian Charities and Not-for-profits Commission Bill 2012

Introduced into the House of Representatives on 23 August 2012
Portfolio: Treasury
Response received: 22 October 2012

Committee view

1.2        The committee thanks the Assistant Treasurer for his detailed response. Having considered this further information in conjunction with the statement of compatibility, the committee is satisfied that this bill does not appear to raise any human rights concerns.  

Purpose of the bill

1.3        This bill establishes a new independent statutory office, the Australian Charities and Not-for-profits Commission (ACNC) as the Commonwealth regulator for the not-for-profit (NFP) sector. The explanatory memorandum to the bill describes the NFP sector as broadly consisting of entities that seek to achieve a community, altruistic or philanthropic purpose.

1.4        The bill also establishes a new regulatory framework for the NFP sector by:

• charging the ACNC with registering NFP entities (initially charities) and maintaining a register;
• making registration with the ACNC as a necessary precondition for access to certain Commonwealth taxation concessions and a prerequisite for other exemptions, benefits and concessions provided under other Australian laws.
• providing for the powers of the ACNC Commissioner in relation to the regulation of registered entities; and
• setting out the obligations and responsibilities of registered entities.

1.5        The Assistant Treasurer's response can be found in Appendix 1

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