ACNC moves to cut reporting burden for charities

Charities will not have to duplicate financial reporting to the Australian Charities and Not-for-profits Commission (ACNC) and to the states and territories in the 2014 reporting period.

Instead, when completing their 2014 annual information statement, they will be able to electronically submit to the ACNC the same financial reports they provide to the states and territories.

ACNC Commissioner Susan Pascoe says the change means that medium and large charities will not have to spend extra time and money filing annual financial reports to the ACNC.

“This announcement is just one of many red tape reduction initiatives we are undertaking,” she says.

Meanwhile, the ACNC has also released report which lists recommendations made at the Red Tape Reduction Forum, held in Canberra in December 2013.

The recommendations include:

  • Harmonising regulation and reporting across the not-for-profit sector.
  • Government regulators adopting a “light touch” approach, with compliance interventions a last resort.
  • Measuring the red tape burden.
  • Reducing red tape for volunteers.
  • Organisations providing only one set of audited accounts to different government agencies.

The full list of recommendations can be viewed in a report: Measuring and Reducing Red Tape in the Not-For-Profit Sector.

Building on the discussions and recommendations of the Red Tape Reduction forum, the ACNC has now commissioned Ernst and Young to conduct research on the regulatory and reporting burden on charities in Australia.

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