An agreement between the Australian Taxation Office (ATO) and the Australian Charities and Not-for-profits Commission (ACNC) will allow ancillary funds registered as charities to only report their annual return once.
The move has been described by the ACNC as a step towards reducing the administrative burden on charities for around 3,000 charities.
“Ancillary funds were previously required to report their annual return to both the ATO and the ACNC,” ACNC Commissioner Susan Pascoe AM said.
“By collaborating with the ATO, we’re ensuring that ancillary funds only need to report once using the ACNC’s online Annual Information Statement. We will then share the information they collect with the ATO.”
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