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Summary – Bill d’Apice and Kylie Maxwell presented to the NSW State Legal Conference on NFP structures and the reform agenda for charities and NFPs on 27 March 2012. Bill d’Apice and Kylie Maxwell both gave presentations to many lawyers and sector representatives at the request of organisers of the NSW State Legal Conference. They addressed current issues affecting Charities and Not-For-Profits in relation to entity structures, public juridical persons, changes to the laws affecting Public Ancillary Funds, the…
Summary New laws introduced on 1 January 2012 change the way public ancillary funds are structured, operated and wound up. On 1 January 2012, new laws governing the definition and operation of public ancillary funds came into force.  The definition is now the cornerstone for organisations seeking to have their ancillary fund endorsed by the Australian Taxation Office as a deductible gift recipient. Trustees of and donors to public ancillary funds should be aware that: new Public
The Government has just announced the delay of the commencement of the ACNC and the setting up of a working group to work through major tax reforms for the Not-For-Profits sector. The Assistant Treasurer announced on 1 March 2012 that the ACNC will not commence operation until 1 October 2012. The Assistant Treasurer and Minister for Social Inclusion acknowledged that the legislative reform that is planned needs to be responsive to feedback from the Not-For-Profit sector…
SUMMARY The New Zealand Charities Commission is to be disestablished due to a duplication of government functions, while Australia is setting up its Australian Charities & Not-For-Profits Commission. Charities and Not-For-Profit organisations in Australia will be interested to know that while the Federal Government is setting up the Australian Charities and Not-For-Profits Commission (which is planned to complement the activities of the Australian Taxation Office), the Government in New Zealand has decided that the New…
The Federal Government has been working on the reform of the Charities and Not-For-Profit sector arduously before the Christmas break. 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…