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  • good faith
    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 trading while insolvent and if the responsible entity was suffering illness or had some other good reason which prevented him or her from

    Original URL path: http://www.kyliemaxwell.com.au/tag/good-faith/ (2014-01-05)
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  • governance
    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 trading while insolvent and if the responsible entity was suffering illness or had some other good reason which prevented him or her from

    Original URL path: http://www.kyliemaxwell.com.au/tag/governance/ (2014-01-05)
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  • regulations
    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 trading while insolvent and if the responsible entity was suffering illness or had some other good reason which prevented him or her from

    Original URL path: http://www.kyliemaxwell.com.au/tag/regulations/ (2014-01-05)
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  • responsible
    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 trading while insolvent and if the responsible entity was suffering illness or had some other good reason which prevented him or her from

    Original URL path: http://www.kyliemaxwell.com.au/tag/responsible/ (2014-01-05)
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  • standards
    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 trading while insolvent and if the responsible entity was suffering illness or had some other good reason which prevented him or her from

    Original URL path: http://www.kyliemaxwell.com.au/tag/standards/ (2014-01-05)
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  • commission
    that govern whether the ACNC and the ATO will accept your charity s application If you have any questions about how your charity or nonprofit is affected do contact Kylie Maxwell on 61 2 8215 1593 or by email You can also find further information at the ACNC s website Filed Under Charities Nonprofits Tagged With charities commission law new nonprofit not for profit regulate regulator rules Leave a Comment admin September 25 2012 Australian charity commission New regulator for charities sector imminent At the time of writing there are two bills before the Senate that will if passed change the way the charities sector is regulated The Australian Charities and Not for profits Commission Bill 2012 the ACNC Bill and the Australian Charities Not for profits Commission Consequential and Transitional Bill 2012 together the Bills have passed through the House of Representatives and are expected to be passed by the Senate sometime after 9 October 2012 This puts the start date of the ACNC beyond the government s planned date of 1 October 2012 The Bills propose that charities will be regulated by a new independent statutory body with powers to register investigate educate monitor and administer sanctions against charities and later nonprofits in a way unprecedented in Australia The Bills suggest a new reporting framework for charities on a three tiered structure with annual information statements as well as financial reports having to be provided to the ACNC for some from July next year Financial reports shall only be required to be lodged by those entities that are registered with the ACNC and fall into the medium or large entity categories Medium entities shall have to have such reports reviewed and large entities shall have to have such reports audited The Bill also allows the ACNC to require an additional report from a charity that is under the ACNC s scrutiny i In an effort to carve out a special arrangement for religious bodies the ACNC Bill gives a basic religious charity the opportunity to avoid lodging an annual financial report ii However the definition of basic religious charity expressly excludes corporations registered under the Corporations Act 2001 and under some indigenous and Territory legislation iii as well as incorporated associations formed under any of the applicable State and Territory legislation The ACNC Bill specifies that information will be made available to the public via the internet for each charity registered with the ACNC which will include among other things information and financial statements warnings issued by the Commissioner of the ACNC directions issued by the Commissioner undertakings given by the registered charity injunctions or interim injunctions made under Division 95 and suspensions or removals from the charities register iv Practitioners will have to keep in mind the details of section 40 10 of the ACNC Bill That section details the circumstances in which the Commissioner may withhold or remove from the public register the abovementioned information Those circumstances include where the information is commercially sensitive and has

    Original URL path: http://www.kyliemaxwell.com.au/tag/commission/ (2014-01-05)
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  • new
    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 obligations of reporting and other governance requirements will follow in later subordinate legislation While nonprofits who are not on the register do not have these additional reporting and governance requirements it is expected that if they apply for registration and are accepted they will be governed by the new rules The government also plans to regulate them in the future How can we help While the online application process appears at first to be simple and accessible there is a complex history of laws behind the completion of the online forms for tax concessions and in filling out applications for tax deductibility called DGR We are experienced in the history and development of the laws that govern whether the ACNC and the ATO will accept your charity s application If you have any questions about how your charity or nonprofit is affected do contact Kylie Maxwell on 61 2 8215 1593 or by email You can also find further information at the ACNC s website Filed Under Charities Nonprofits Tagged With charities commission law new nonprofit not for profit regulate regulator rules Leave a Comment Office 61 2 9889 2881 Mobile 61 405 124 975 Office 61 2 8215 1593 Mobile 61 405 124 975 Subscribe

    Original URL path: http://www.kyliemaxwell.com.au/tag/new/ (2014-01-05)
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  • nonprofit
    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 obligations of reporting and other governance requirements will follow in later subordinate legislation While nonprofits who are not on the register do not have these additional reporting and governance requirements it is expected that if they apply for registration and are accepted they will be governed by the new rules The government also plans to regulate them in the future How can we help While the online application process appears at first to be simple and accessible there is a complex history of laws behind the completion of the online forms for tax concessions and in filling out applications for tax deductibility called DGR We are experienced in the history and development of the laws that govern whether the ACNC and the ATO will accept your charity s application If you have any questions about how your charity or nonprofit is affected do contact Kylie Maxwell on 61 2 8215 1593 or by email You can also find further information at the ACNC s website Filed Under Charities Nonprofits Tagged With charities commission law new nonprofit not for profit regulate regulator rules Leave a Comment Office 61 2 9889 2881 Mobile 61 405 124 975 Office 61 2 8215 1593 Mobile 61 405 124 975 Subscribe

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