Not-for-profit news

There are changes going along in Victoria and across Australia of which NFPs need to be aware:

Victoria The Associations Incorporation Act has undergone reform that will take effect on 26 November 2012.  The changes that will affect all Victoria NFPs incorporated under the Act is the change of title of Public Officer to Secretary and the implementation of a three tier structure for annual reporting; other changes include new Model Rules, privacy of members of associations, legalising trading activities.  There is no requirement for an incorporated NFP to take any action at present however this does seem to be a good time for those long standing organisations to review their rules.

Where there is inconsistency between existing rules and the requirements of the new legislation the legislation will override the organisational rules.

ACNC It’s been a while in coming however legislation to approve the ACNC has been passed through Parliament and the Commission is expecting to go into action in December this year.  The ACNC will focus on charities in the first instance.  Organisations with charitable tax concessions will be automatically taken into the the new system; moving forwards an organisation that wishes to register as a charity must do so via the ACNC.

There is an increasing amount of information with regard to ACNC functions on their website and via subscription to updates.

Need help with your NFP Board and governance techniques?  Compliance Essentials includes Board mentoring and governance review as part of our service products, contact us on 1300 602 880 or via our website at www.complianceessentials.com.au

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