The ACNC Commissioner on Tue 18.2.2014, announced she will exercise her discretion to accept financial reports submitted to State and Territory governments in place of ACNC Annual Financial Reports for the 2014 reporting period.

The announcement means that when charities complete their 2014 Annual Information Statements with the ACNC, they will be able to electronically submit the same financial reports, which they provide to their state regulators.

ACNC Commissioner Susan Pascoe AM, said the ACNC would continue to work with the states and territories to reduce red tape wherever possible. “The third Object of the ACNC Act is to promote the reduction of unnecessary regulatory obligations on the sector,” Ms Pascoe said. She said that accepting the reports of state and territory agencies will mean medium and large charities will not have to spend extra time and money filing Annual Financial Reports to the ACNC.

The Commissioner said that in the coming weeks, the ACNC will also release the report summarising the recommendations from the sector which were gathered at the ACNC’s Red Tape Reduction Forum.

Source: ACNC media release, 18 February 2014

[LTN 32, 18/2/14]