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  • admin
    charities register charity disclosure privacy private private ancillary funds register removal Leave a Comment admin July 13 2013 Governance Standards Now Applicable to Charities Mandatory governance provisions apply from 1 July 2013 to charities registered entities registered with the Australian Charities Not for Profits Commission ACNC and to their responsible entities which range from being applicable to directors of companies limited by guarantee that are registered entities and extend even to liquidators of those companies Under the Australian Charities and Not for Profits Commission Act 2012 a responsible entity includes directors trustees directors of trustee companies trustees in bankruptcy receivers or receivers and managers administrators administrators of a deed of company arrangement and liquidators of registered entities It also includes a trustee or other entity administering a compromise or arrangement between the registered entity charity and someone else The Australian Charities and Not for Profits Commission Amendment Regulation 2013 No 1 was one of three amending regulations that have recently commenced The other amendment regulations deal with the setup of laws regarding when the ACNC Commissioner can allow or disallow certain information to be published on the ACNC Register and when certain information has to be removed They also specify the requirements for the 2013 2014 annual financial reports of registered entities The No 2 and No 3 amendment regulations are the subject of other blogs to be found here and here The governance provisions called Governance Standards number five in all and can be summarised as follows Registered entities are to make available to those they come into contact with information about their not for profit nature and purpose including persons ranging from members to donors and even benefit recipients which is a term undefined by the legislation but which we assume means those whom the charity serves or helps Registered entities must be accountable to their members Registered entities must comply with Australian laws avoiding being pursued for an indictable offence and offences with certain penalties Registered entities must take reasonable steps to ensure that its responsible entities are not disqualified from managing companies or by the ACNC under Australian laws Responsible entities must keep a range of duties creating a fiduciary type relationship with the registered entity including using care and diligence acting in good faith and in the best interests of the registered entity not misusing his or her position or information obtained whilst carrying out the duties of the position disclosing perceived or actual conflicts of interest being responsible with respect to the financial affairs of the registered entity ensuring that the registered entity does not operate while insolvent and if the responsible entity acts in good faith and with an independent assessment of information prepared by competent employees professional advisers other responsible entities or authorised committees comprising responsible entities this will be taken to have met the standard and if the responsible entity had reasonable grounds for believing the registered entity was solvent this will excuse them from being responsible for the registered entity

    Original URL path: http://www.kyliemaxwell.com.au/author/admin/ (2014-01-05)
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  • Charities & Nonprofits
    charities register charity disclosure privacy private private ancillary funds register removal Leave a Comment admin July 13 2013 Governance Standards Now Applicable to Charities Mandatory governance provisions apply from 1 July 2013 to charities registered entities registered with the Australian Charities Not for Profits Commission ACNC and to their responsible entities which range from being applicable to directors of companies limited by guarantee that are registered entities and extend even to liquidators of those companies Under the Australian Charities and Not for Profits Commission Act 2012 a responsible entity includes directors trustees directors of trustee companies trustees in bankruptcy receivers or receivers and managers administrators administrators of a deed of company arrangement and liquidators of registered entities It also includes a trustee or other entity administering a compromise or arrangement between the registered entity charity and someone else The Australian Charities and Not for Profits Commission Amendment Regulation 2013 No 1 was one of three amending regulations that have recently commenced The other amendment regulations deal with the setup of laws regarding when the ACNC Commissioner can allow or disallow certain information to be published on the ACNC Register and when certain information has to be removed They also specify the requirements for the 2013 2014 annual financial reports of registered entities The No 2 and No 3 amendment regulations are the subject of other blogs to be found here and here The governance provisions called Governance Standards number five in all and can be summarised as follows Registered entities are to make available to those they come into contact with information about their not for profit nature and purpose including persons ranging from members to donors and even benefit recipients which is a term undefined by the legislation but which we assume means those whom the charity serves or helps Registered entities must be accountable to their members Registered entities must comply with Australian laws avoiding being pursued for an indictable offence and offences with certain penalties Registered entities must take reasonable steps to ensure that its responsible entities are not disqualified from managing companies or by the ACNC under Australian laws Responsible entities must keep a range of duties creating a fiduciary type relationship with the registered entity including using care and diligence acting in good faith and in the best interests of the registered entity not misusing his or her position or information obtained whilst carrying out the duties of the position disclosing perceived or actual conflicts of interest being responsible with respect to the financial affairs of the registered entity ensuring that the registered entity does not operate while insolvent and if the responsible entity acts in good faith and with an independent assessment of information prepared by competent employees professional advisers other responsible entities or authorised committees comprising responsible entities this will be taken to have met the standard and if the responsible entity had reasonable grounds for believing the registered entity was solvent this will excuse them from being responsible for the registered entity

    Original URL path: http://www.kyliemaxwell.com.au/category/charities-and-nonprofits/ (2014-01-05)
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  • ACNC
    a responsible entity which includes the entities listed on our previous blog information in an annual information statement and information in a financial report audit or review report Most of these changes affect private ancillary funds and prevent their major donors from having their identities disclosed on the register The ACNC has delayed the inclusion of information about private ancillary funds on the Register so that it can implement the new law The ACNC has foreshadowed that a new form will be released which will allow private ancillary funds to put forward their arguments for removing or omitting information from the Register There is already a form in place for the removal of information from the Register that has been disclosed in contravention of the Australian Charities and Not for Profits Commission Act 2012 If you need to make a submission to the ACNC to put forward reasons for excluding certain information from the Register contact Kylie now for a confidential consultation Filed Under Charities Nonprofits Tagged With ABN ACNC charities charities register charity disclosure privacy private private ancillary funds register removal Leave a Comment admin July 13 2013 Governance Standards Now Applicable to Charities Mandatory governance provisions apply from 1 July 2013 to charities registered entities registered with the Australian Charities Not for Profits Commission ACNC and to their responsible entities which range from being applicable to directors of companies limited by guarantee that are registered entities and extend even to liquidators of those companies Under the Australian Charities and Not for Profits Commission Act 2012 a responsible entity includes directors trustees directors of trustee companies trustees in bankruptcy receivers or receivers and managers administrators administrators of a deed of company arrangement and liquidators of registered entities It also includes a trustee or other entity administering a compromise or arrangement between the registered entity charity and someone else The Australian Charities and Not for Profits Commission Amendment Regulation 2013 No 1 was one of three amending regulations that have recently commenced The other amendment regulations deal with the setup of laws regarding when the ACNC Commissioner can allow or disallow certain information to be published on the ACNC Register and when certain information has to be removed They also specify the requirements for the 2013 2014 annual financial reports of registered entities The No 2 and No 3 amendment regulations are the subject of other blogs to be found here and here The governance provisions called Governance Standards number five in all and can be summarised as follows Registered entities are to make available to those they come into contact with information about their not for profit nature and purpose including persons ranging from members to donors and even benefit recipients which is a term undefined by the legislation but which we assume means those whom the charity serves or helps Registered entities must be accountable to their members Registered entities must comply with Australian laws avoiding being pursued for an indictable offence and offences with certain penalties Registered

    Original URL path: http://www.kyliemaxwell.com.au/tag/acnc/ (2014-01-05)
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  • charity
    end of their reporting period The 2013 AIS does not require financial information to be disclosed If you are unsure about your reporting obligations or that of your charity you are welcome to contact Kylie now to discuss how you can clarify what you are required to do Filed Under Charities Nonprofits Tagged With accounting standards AIS charities charity financial report large registered entity medium registered entity reporting period Leave a Comment admin July 13 2013 Private Ancillary Funds and Others Benefit from Privacy on ACNC Register Regulations have commenced operation which will prevent the Australian Charities and Not for Profits Commission ACNC from disclosing identifying information on its Register in relation to some registered entities The Australian Charities and Not for Profits Commission Amendment Regulation 2013 No 2 the Regulation commenced in May this year Under the Regulation the following information may be excluded from the Register in certain circumstances the name and ABN of the registered entity contact details including the address for service of the entity a governing rule in the governing rules of the registered entity the name of a responsible entity which includes the entities listed on our previous blog information in an annual information statement and information in a financial report audit or review report Most of these changes affect private ancillary funds and prevent their major donors from having their identities disclosed on the register The ACNC has delayed the inclusion of information about private ancillary funds on the Register so that it can implement the new law The ACNC has foreshadowed that a new form will be released which will allow private ancillary funds to put forward their arguments for removing or omitting information from the Register There is already a form in place for the removal of information from the Register that has been disclosed in contravention of the Australian Charities and Not for Profits Commission Act 2012 If you need to make a submission to the ACNC to put forward reasons for excluding certain information from the Register contact Kylie now for a confidential consultation Filed Under Charities Nonprofits Tagged With ABN ACNC charities charities register charity disclosure privacy private private ancillary funds register removal Leave a Comment admin July 13 2013 Governance Standards Now Applicable to Charities Mandatory governance provisions apply from 1 July 2013 to charities registered entities registered with the Australian Charities Not for Profits Commission ACNC and to their responsible entities which range from being applicable to directors of companies limited by guarantee that are registered entities and extend even to liquidators of those companies Under the Australian Charities and Not for Profits Commission Act 2012 a responsible entity includes directors trustees directors of trustee companies trustees in bankruptcy receivers or receivers and managers administrators administrators of a deed of company arrangement and liquidators of registered entities It also includes a trustee or other entity administering a compromise or arrangement between the registered entity charity and someone else The Australian Charities and Not for Profits Commission

    Original URL path: http://www.kyliemaxwell.com.au/tag/charity/ (2014-01-05)
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  • definition
    law does not change the position in relation to charities that have been registered already with the ACNC as they will remain registered charities so long as they continue to meet the ACNC s requirements But nonprofit organisations that wish to become registered will need to consider the categories of charity in the Act to become registered The term charitable purpose used in the definition in Part 3 now specifically includes Advancing health Advancing education Advancing social or public welfare including relief of poverty caring for supporting and protecting children and young people and providing childcare Advancing religion Advancing culture Promoting reconciliation mutual respect and tolerance between groups of individuals in Australia Promoting or protecting human rights Protecting the safety of the general public Preventing or relieving the suffering of animals Advancing the natural environment Any other purpose beneficial to the general public that may be reasonably regarded as analogous to or within the spirit of the above purposes and Promoting or opposing a change to any matter established by law policy or practice in the Commonwealth a State a Territory or another country in furtherance or protection of one or more of the above purposes Nonprofit organisations that are not sure whether their activities fall within these categories should read the Explanatory Memorandum to the Bill of the Act as from paragraphs 1 82 to 1 115 the Explanatory Memorandum makes further lists under the headings of each of these categories to further clarify what kinds of activities will qualify You can see a link to the Explanatory Memorandum and to the Act here in our show notes to our video on the same topic Any nonprofits that are unsure of whether they qualify and wish to have assistance with their applications should contact us so we can assist

    Original URL path: http://www.kyliemaxwell.com.au/tag/definition/ (2014-01-05)
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  • law
    law policy or practice in the Commonwealth a State a Territory or another country in furtherance or protection of one or more of the above purposes Nonprofit organisations that are not sure whether their activities fall within these categories should read the Explanatory Memorandum to the Bill of the Act as from paragraphs 1 82 to 1 115 the Explanatory Memorandum makes further lists under the headings of each of these categories to further clarify what kinds of activities will qualify You can see a link to the Explanatory Memorandum and to the Act here in our show notes to our video on the same topic Any nonprofits that are unsure of whether they qualify and wish to have assistance with their applications should contact us so we can assist Filed Under Charities Nonprofits Tagged With ACNC charity definition law legal Leave a Comment admin December 7 2012 Charities Commission Regulates the Charities Nonprofits Sector Legislation giving rise to a new regulator the Australian Charities Not for profits Commission ACNC commenced operation this week giving rise to new obligations and rules regarding the charities and nonprofits sector What s New Charities that have current endorsements by the Australian Taxation Office ATO entitling them to tax concessions and who can give tax deductible receipts have been automatically included on a new register You can view your charity s page by searching the register here If your charity does not have current endorsements from the ATO you can still register your charity through this page Nothing about the definition of what comprises a charity has changed However from 1 July 2013 what comprises a charity will be determined by legislation instead of the current common law Directors and leaders of charities that are listed on the ACNC s register now have new

    Original URL path: http://www.kyliemaxwell.com.au/tag/law/ (2014-01-05)
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  • legal
    law does not change the position in relation to charities that have been registered already with the ACNC as they will remain registered charities so long as they continue to meet the ACNC s requirements But nonprofit organisations that wish to become registered will need to consider the categories of charity in the Act to become registered The term charitable purpose used in the definition in Part 3 now specifically includes Advancing health Advancing education Advancing social or public welfare including relief of poverty caring for supporting and protecting children and young people and providing childcare Advancing religion Advancing culture Promoting reconciliation mutual respect and tolerance between groups of individuals in Australia Promoting or protecting human rights Protecting the safety of the general public Preventing or relieving the suffering of animals Advancing the natural environment Any other purpose beneficial to the general public that may be reasonably regarded as analogous to or within the spirit of the above purposes and Promoting or opposing a change to any matter established by law policy or practice in the Commonwealth a State a Territory or another country in furtherance or protection of one or more of the above purposes Nonprofit organisations that are not sure whether their activities fall within these categories should read the Explanatory Memorandum to the Bill of the Act as from paragraphs 1 82 to 1 115 the Explanatory Memorandum makes further lists under the headings of each of these categories to further clarify what kinds of activities will qualify You can see a link to the Explanatory Memorandum and to the Act here in our show notes to our video on the same topic Any nonprofits that are unsure of whether they qualify and wish to have assistance with their applications should contact us so we can assist

    Original URL path: http://www.kyliemaxwell.com.au/tag/legal/ (2014-01-05)
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  • accounting standards
    Regulation clarified what is to be the content of the annual financial report of a medium registered entity what is to be the content of the annual financial report of a large registered entity and that financial notes and statements are to be prepared in accordance with the accounting standards made under the Corporations Act 2001 the exact content requirement of the responsible entities declaration as to the solvency of the registered entity and compliance with the Australian Charities and Not for Profits Commission Act 2012 To date charities registered entities have only been required to lodge the 2013 Annual Information Statement 2013 AIS within 6 months of the end of their reporting period The 2013 AIS does not require financial information to be disclosed If you are unsure about your reporting obligations or that of your charity you are welcome to contact Kylie now to discuss how you can clarify what you are required to do Filed Under Charities Nonprofits Tagged With accounting standards AIS charities charity financial report large registered entity medium registered entity reporting period Leave a Comment Office 61 2 9889 2881 Mobile 61 405 124 975 Office 61 2 8215 1593 Mobile 61 405 124

    Original URL path: http://www.kyliemaxwell.com.au/tag/accounting-standards/ (2014-01-05)
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