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Senate Committee report - disclosure regimes for charities and NFPs |
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8 December 2008
The Senate Economics Committees report was released on the 4th of December and it includes several recommendations that, if implemented, will have significant implementations for the sector.
Many of the key recommendations provided by the sector to the inquiry, are included in the Senate report.
Key recommendations include:
- All Australian Governments agreeing on common terminology for referring to organisations within the sector.
- Creating a Unit in the Department of Prime Minister and Cabinet to manage issues arising for not-for-profit organisations, reporting to a Minister for the Third Sector.
- Creating an Australian National Regulator for Not-for-Profit Organisations which would develop and maintain a register of all Not-for-Profit Organisations in Australia; undertake either an annual descriptive analysis of the organisations it regulates or provide the required information annually to the ABS for collation and analysis; secure compliance with relevant legislation and investigate complaints; develop best practice standards and educate not-for-profit organisations on best practice standards; and educate the public about the role of not-for-profit organisations.
- Creating a National Fundraising Act.
- Implementing a standard chart of accounts.
- The Henry Tax Review examining taxation measures affecting the not-for-profit sector with a view to simplifying arrangements and reducing confusion.
- Establishing a Taskforce for implementing the recommendations of the Report, with membership including representatives from the peak bodies of not-for-profit organisations.
Resources
Further information
Contact:
Catherine Mahony
Deputy Director Sector Development /Corporate Services
email:
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