|
No images? Click here The Charitable PurposeACNC monthly e-newsletter December 2023 Commissioner's Column
It’s hard to believe it has been nearly a year since I started as ACNC Commissioner. While I am as ready as anyone for a break, I am still pinching myself that I have the privilege of leading the ACNC. The team around me have shown commitment and worked hard during this time, and I thank them sincerely for this. And for their patience with a new Commissioner, with all her questions and new ideas! Charity news and updates
Charities (State or Territory Government Entity) Instrument 2023 - consultation closes 15 December 2023 NFP Blueprint Issues Paper - submissions due by 20 December 2023 Productivity Commission Philanthropy Inquiry Draft report - final submissions are due by 9 February 2024 Guidance and resources for charitiesFree financial reporting course All charities are required to complete the Annual Information Statement and many also complete financial reports. But how do you know what financial information is required? And do you have the financial understanding and skills to understand what is being asked? This short course from the ACNC provides answers. Related party transactions webinar The 2023 Annual Information Statement sees charities reporting on their related party transactions. Our latest webinar reminded charities of the specific obligations they may have, and answered some common questions asked by the sector. You can watch the recording of the webinar here. 2023 Annual Information Statement Charities that operate on a standard financial year (1 July to 30 June) must submit their 2023 Annual Information Statement prior to the 31 January. Remember that there will be new questions requiring you to report your charity's dealings with related parties. Learn more about the new questions and what you need to know before completing your charity's AIS in the AIS Hub. Get in early, beat the rush and submit via the Portal now. Stay up to date Follow us on social media Subscribe to this monthly e-newsletter. And please share this newsletter with those who run your charity. Answering your questions
Q: My charity has started a new program. How do I update the Charity Register to include it on our register listing? A. It is important to keep your charity's information up to date. Lots of people search the Charity Register looking for a program to support. To make a change, log in to the Charity Portal and use the form "Change charity programs". You can use this form and update your charity's program details as often as necessary. You no longer need to wait for the Annual Information Statement to update them. Q. I’ve read that charities will have to report on their related party transactions in their next Annual Information Statement. How do I know what our charity needs to report on? A. Our guidance on related party transactions provides a great rundown on the different obligations registered charities have when it comes to reporting on their related party transactions. The definition of a related party, as well as the transactions charities need to report on, will depend on whether they are classed as small, medium or large in the period covered by the 2023 Annual Information Statement. Small charities need to provide details on what are known as ‘reportable related party transactions’. In their 2023 Annual Information Statements, these charities will be asked if they have any reportable related party transactions in the 2023 reporting period. If they do, they will be presented with a series of different transaction types they can select from. For medium and large charities, the definition of a related party and a related party transaction differs from that which applies to small charities. When it comes to reporting, medium and large charities must disclose ‘material related party transactions’. Again, if these charities do have these types of transactions, they will be presented with a series of different transaction types in their 2023 Annual Information Statements they can select from. The ACNC has detailed guidance on related party transactions and how charities should report them.
We register hundreds of new charities every month. You can view the list of newly registered charities by clicking on the button below. Welcome to the charities registered with the ACNC in November 2023.
To remain eligible for registration, charities must meet ongoing obligations. Each time a Responsible Person (a committee or board member or trustee) commences or resigns from their position, you must notify us. Learn more about notifying the ACNC. Holding an annual general meeting is a good way to be accountable to your members. Read more about AGMs and view our free resources. The ACNC acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to them and their cultures and elders past and present. |