Thursday, 4 February 2021
Questions without Notice: Additional Answers
Australian Charities and Not-for-profits Commission Legislative Review
(—) (): I table a response to the question asked by Senator Griff and taken on notice during question time on 3 February 2021, relating to the Australian Charities and Not-for-profit Commission Legislative Review. I seek leave to have the document incorporated into Hansard.
The document read as follows—
I write with regard to a question I took on notice from Senator Griff during Question Time, Wednesday 3 February 2021, on the matter of the Australian Charities and Not-forprofits Commission (ACNC) Legislative Review.
I am advised that all charities registered with the ACNC, regardless of their size, have reporting obligations, and will continue to have reporting obligations. The ACNC requires all registered charities to submit an Annual Information Statement which includes information about the charity, its governance and activities, and basic financial information (revenue, expenses, assets and liabilities).
In addition to Annual Information Statements, medium charities must also submit reviewed annual financial reports, and large charities must also submit audited annual financial reports. This information is available on the ACNC Charity register (www.acnc.gov.au/charity) and enables the ACNC to ensure that charities remain appropriately governed and are focused on their charitable purpose.
The 2018 review of the ACNC legislation recommended raising the revenue thresholds for financial reporting purposes to reduce the compliance burden on charities. The Government supports the recommendation and recognises the need to balance red tape reduction for charities with the need for transparency. The Government is currently consulting with States and Territories on the appropriate level of revenue thresholds.
I have copied this letter to Minister Sukkar and Senator Griff.
Minister for Finance
4 February 2021