NOT-FOR-PROFITS REPORTING AND REGULATORY UPDATE
The Not-for-Profit sector is continuing to face significant levels of change. It is important for you to stay on top of the latest requirements and understand how they will impact your organisation.
Why Not-For-Profits must make a profit
Funding of Not-For-Profit Organisations is changing towards “in arrears” instead of "in advance”. For that reason, NFP’s may need to increase profits to sustain operations.
Important changes for QLD Incorporated Associations
In June 2020, the Queensland Government passed a number of significant changes to the Associations Incorporations Act 1981. The changes were designed to modernise the requirements and reduce red tape for associations registered with the Australian Charities and Not-for-profit Commission (ACNC).