Charities have secured an exemption from paying the new Australian Securities and Investments Commission (ASIC) levy, ensuring fee-free regulation for all charities.
It was announced on Friday that entities registered under the Australian Charities and Not-for-profits Commission Act 2012 would be exempt from the ASIC Supervisory Cost Recovery Levy Act 2017, which could have seen them parting with $321 in administrative costs.
It comes after the sector raised concerns the levy would impose an “unfair burden” on ACNC-registered charities.
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