The red tape burden for charities in New South Wales is set to be slashed, with an agreement between the Australian Charities and Not-for-profits Commission (ACNC) and NSW Fair Trading significantly cutting down the administrative burden.
Under the agreement, registered charities would only be required to submit one annual financial report to the ACNC, who would then securely share the data with NSW Fair Trading.
Previously, charities were required to submit financial reports at both a state and federal level.
ACNC Commissioner Dr Gary Johns, said this was a big win for registered
Charities incorporated as associations in NSW, as they would now spend less time “meeting duplicative reporting requirements”.
“They can now spend more time and energy on delivering services and support to the people of NSW,” Johns said.
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