Following the establishment of the Australian Charities and Not-for-profits Commission (ACNC), the Assistant Treasurer has announced that annual review fees currently charged by ASIC will be removed for Australian charities. From 1 July 2013, registered charities will no longer have to pay annual fee (ranging from $43 to $1,086) as oversight for the not-for-profit sector moves from ASIC to the ACNC. Mr Bradbury said the ACNC will not be charging annual fees and that the announcement would benefit around 1,400 charities.
[LTN 207, 25/10]