ACNC regulations registered re charity sector reform:
The Australian Charities and Not-for-profits Commission Amendment (2021 Measures No 3) Regulations 2021 has been registered.
Among other things, it amends the Australian Charities and Not-for-profits Commission Regulation 2013 to:
🔸 increase the thresholds for working out the size of a registered entity;
🔸 increase disclosure requirements for related party transactions for medium and large registered entities; and
🔸 enable registered entities to make voluntary real-time updates to their program information on the Australian Charities and Not-for-profits Commission Register.
In this regard, a registered entity will be:
🔹 a “small registered entity” where its annual revenue is less than $0.5m;
🔹 a “medium registered entity” if its annual revenue threshold is between $0.5m and $3.0m; and
🔹 a “large registered entity” if its annual revenue is $3.0m or more.