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‘After decades of discussion, the time has come for real reform for the charitable sector,’ according to Rev Tim Costello, Chair of the Community Council for Australia (CCA). ‘We have waited a long time to have an independent regulator dedicated to serving the interests of the not-for-profit sector.  Many charities are drowning in a sea of compliance, duplication and red tape that provides very limited benefit to anyone.  The sooner we can make real progress in reducing this wasted effort, the more time and effort charities can devote to doing what they do best – making a real difference for our communities.’

On Friday July 6, 2012 the Assistant Treasurer the Hon. David Bradbury MP and the Minister for Social Inclusion the Hon. Mark Butler MP released the second exposure draft of the legislation to establish the first independent regulator for the charity and not-for-profit sector in Australia, the Australian Charities and Not-for-profits Commission (ACNC). With the legislation referred to the House of Representatives Standing Committee on Economics for inquiry, over 65 submissions received and two days of public hearings now complete, CCA’s CEO David Crosbie comments on the journey so far…

It has been a long time coming – the independent regulator for the NFP sector is almost here – but it has been a rather potholed journey.

The Community Council for Australia (CCA) today welcomed the release of draft legislation to establish the Australian Charities and Not-for-profit Commission as a ‘long overdue reform for Australian not-for-profit organisations.’   

The Community Council for Australia (CCA) welcomes the Senate Economics Committee report: ‘Investing in good: the development of a capital market for the not-for-profit sector in Australia’ tabled in the Parliament today.

CCA CEO David Crosbie says Australia needs to create an option for not-for-profits to invest in themselves to become stronger as organisations. We’d like to see us follow the lead from the United Kingdom. What they have done is identify monies which are lying dormant in bank accounts, superannuation funds and insurance funds for more than 20 years and they are using that to underwrite establishment of what they are calling a ‘Big Society Bank’, which is really a not-for-profit bank.