The Gillard government announced a range of Budget measures on 10 May 2011 which will have a serious impact on the Charities and Not-For-Profits sector.
These measures include:
- The establishment of a National Regulator to be known as the Australian Charities and Not-For-Profits Commission which will be responsible for regulation of the sector.
- The establishment of a statutory definition of “Charity“.
- The imposition of income tax on some income of NFPs from commercial activities where the proceeds are not applied towards the NFP’s altruistic purpose.