The Australian Charities and Not-for-profit Commission (ACNC) has warned that 1,400 charities face losing access to a range of Commonwealth tax concessions if they do not submit their overdue reporting before 30 March 2015. These charities have been identified for not having submitted their Annual Information Statement to the ACNC for 2 consecutive years.
ACNC Commissioner, Susan Pascoe AM, said the ACNC had made multiple failed attempts to contact these charities and that “revocation was a last resort”. Ms Pascoe said these charities should note that they may stand to lose their deductible gift recipient (DGR) status. The charities facing revocation include a range of charitable trusts, religious organisations, parent associations and health charities. In addition, the ACNC said a further 7,000 double defaulters may have their charity status revoked by the ACNC “in the coming months”.
[LTN 58, 26/3/15]