Senate Inquiry into NFP disclosures

Government response to Senate Inquiry into NFP disclosure regimes

The Commonwealth Government response to the Standing Committee on Economics Senate inquiry into disclosure regimes for charities and not-for-profit organisations was presented in June, and is now available to download from the Senate Committee website. The Committee delivered an extensive report to Parliament in December 2008 which included 15 detailed recommendations, such as the appointment of an Australian Minister for the Third Sector and a single independent regulator for not-for-profit organisations. The Government response is to agree in principle to a common terminology for referring to organisations within the Sector. However, it says the results of the Productivity Commission Review may assist is developing a framework which could underpin standard d efinitions and terminology. It also leaves questions regarding more complex tax arrangements to the Henry Review into the future Australian tax system. For further information on the Senate Inquiry click here.