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- » Submission in response to the exposure draft of the Corporations Amendment (Corporate Reporting Reform) Bill 2010 (Feb 2010)
- » Final response to the Productivity Commission Draft Report on the Contribution of the Not-for-Profit Sector (Nov 2009)
- » Response to the Private Ancillary Fund Draft Guidelines (July 2009)
- » Response to the Private Ancillary Fund Draft Guidelines (July 2009)
- » Productivity Commission Review into the Contribution of the Not-for-profit Sector - Submission (2009)
- » PPFs - Response to Draft Legislation (2009)
- » Exposure Draft of Legislation on Trustee Companies (2009)
- » Australia's Future Tax System - Submission to Treasury (2009)
- » Improving the Integrity of Prescribed Private Funds - Submission to Treasury (2009)
- » Review of PPFs Regulations (2008)
- » Treasury Green Paper - Trustee Corporations (2008)
- » Disclosure regimes for charities and nonprofit organisations (2008)
- » Australian Accounting Standards Board (2007)
- » Financial Reporting by Unlisted Companies (2007)
- » Strong Community Organisations Project (2007)
- » Review of Not-for-Profit Regulation (2007)
- » CSR Inquiry (2007)
- » Inquiry on Corporate Responsibility (2005)
- » Community Foundations in Australia (2005)
- » Reforming Not-for-profit Regulation
- » Charities Definition Inquiry and Draft Charities Bill
Submission in response to the exposure draft of the Corporations Amendment (Corporate Reporting Reform) Bill 2010
February 2010
Philanthropy Australia has made a submission in response to the exposure draft of the Corporations Amendment (Corporate Reporting Reform) Bill 2010. The proposed reforms comprise of a range of measures to improve Australia's corporate reporting framework, by reducing unnecessary red tape and regulatory burden on companies and implementing a number of other important refinements to the regulatory framework. Philanthropy Australia supports in general the proposed legislation as a step forward in reducing onerous reporting and audit requirements for a range of unlisted public company entities, particularly charitable not-for-profit companies limited by guarantee.
Final response to the Productivity Commission Draft Report on the Contribution of the Not-for-Profit Sector
November 2009
The Australian Government has asked the Productivity Commission to undertake a research study (under the chairmanship of Robert Fitzgerald) on the contribution of the not-for-profit (NFP) sector to society. This report is one of the most important Federal Government Reviews affecting the philanthropic and NFP sectors. Philanthropy Australia has provided general information, copies of submissions to other relevant inquiries and in response to a specific request from Mr Fitzgerald, made a formal submission to the Productivity Commission on 29 May 2009, providing an overview of the philanthropic sector and included the following summary and recommendations. Following the release of the Draft Report on the Contribution of the Not-for-Profit Sector on Wednesday, 14 October 2009, Philanthropy Australia made a further submission. The final report is to be released by the end of January 2010.
Final Response to the Private Ancillary Fund Draft Guidelines
July 2009
Philanthropy Australia's final response to the draft guidelines for Private Ancillary Funds (PAFs - formerly PPFs) is now available for download.
Response to the Private Ancillary Fund Draft Guidelines
July 2009
Philanthropy Australia's response to the draft guidelines for Private Ancillary Funds (formerly PPFs) is now available for download. Thank you to all Members who provided input and feedback. For those who would like to make their own response to Treasury, the deadline is next Thursday, 23 July.
Productivity Commission Review into the Contribution of the Not-for-profit Sector - Submission
June 2009
Philanthropy Australia has posted a submission to the Productivity Commission Review into the Contribution of the Not-for-profit Sector.
PPFs - Response to Draft Legislation
May 2009
Philanthropy Australia's response to Draft Legislation is on our website. The Guidelines will not be issued for another couple of weeks.
We advised that it is extremely difficult to respond to the Exposure Draft without having seen the Guidelines. While we support in principle the objectives of the legislation we reserve support for the detail until the Guidelines are released and can be considered. The majority of issues raised by our Members will be covered in the Guidelines and we will take the opportunity to make further submissions on the legislation once the Draft Guidelines are released.
The Exposure Draft - Improving the Integrity of Prescribed Private Funds is available at
http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=1541
Exposure Draft of Legislation on Trustee Companies
May 2009
Philanthropy Australia has posted a submission to Treasury on the Exposure Draft of Legislation on Trustee Companies. In summary, our submission draws particular attention to the lack of a disclosure regime and lack of a dispute resolution framework, and issues around the common pooling of funds.
As a draft disclosure regime and a dispute resolution framework are yet to be released, at this stage Philanthropy Australia supports in principle the objectives of the legislation, but reserves support for the detail until a draft disclosure regime and a dispute resolution framework are made available for consideration, whereupon we may make further submissions.
The Exposure Draft of the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009 is available at
http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=1533
Australia's Future Tax System - Submission to Treasury
April 2009
Philanthropy Australia’s final submission in response to the review of Australia's Future Tax System (known colloquially as the Henry Review) is now available for download.
The submission is brief and focuses on the possible discontinuation of the current dividend imputation regime as part of the Tax Review. A background paper by Dr Ian McKenzie, former Director of Macquarie Group and Assistant Secretary to the Australian Treasury, is included.
Improving the Integrity of Prescribed Private Funds - Submission to Treasury
January 2009
Philanthropy Australia's response to Treasury's discussion paper, released in late November 2008, was prepared after extensive consultation with members and non-members, including individual philanthropists, professional advisors representing a large number of PPFs, staff and trustees of existing PPFs, and representatives from the not-for-profit sector.
Review of PPFs Regulations - Submission to Treasury
August 2008
Philanthropy Australia's recommendation to Treasury is based on the need for transparency, efficiency and choice, to ensure that the maximum benefits of philanthropy flow to the community in perpetuity. We believe that it is in the interests of charities and the community, the Federal Government and the philanthropic sector that a clear regulatory framework for PPFs is simple to administer, monitor and comply with.
Comment on Australian Treasury Green Paper on Financial Services and Credit Reform - Trustee Corporations
August 2008
Philanthropy Australia welcomed the opportunity to submit ideas on the Australian Treasury Green Paper on Financial Services and Credit Reform with particular reference to Section 2 Trustee Corporations. Philanthropy Australia believes that the introduction of a national framework will encourage a more competitive environment with reduced regulatroy burden while enhancing oversight.
Download PDF of Submission & paper on Issues for Consideration
Submission to the Senate Standing Committee on Economics Inquiry on disclosure regimes for charities and nonprofit organisations
August 2008
Philanthropy Australia welcomed the opportunity to comment on the Senate Standing Committee on Economics Inquiry on disclosure regimes for charities and not-for-profit organisations.
Philanthropy Australia recommends:
- That the term nonprofit/not-for-profit organisation be replaced with the "Community Benefit Entity".
- That the Australian Government implement the Standard Chart of Accounts and data dictionary for Community Benefit Entity reporting developed by Prof. Myles McGregor-Lowndes, Queensland University of Technology.
- That the Australian Government work with the States to develop and promulgate a Community Benefit Entity financial reporting regime that allows for differential financial reporting based on assets, revenue and the level of public accountability expected of the Community Benefit Entity.
- Ideally, a Community Benefit Entity financial reporting regime would differentiate between Community Benefit Entities established for charitable purposes and those established for community purposes such as sporting clubs, private clubs and membership services organisations.
Philanthropy Australia supports the introduction of harmonised, consistent financial reporting requirements for Community Benefit Entities, no matter what the basis of their incorporation.
Australian Accounting Standards Board (AASB):
Request for Comment on a Proposed Revised Differential Reporting Regime for Australia and IASB - Exposure Draft of a Proposed IFRS for Small and Medium-sized Entities
September 2007
Philanthropy Australia was invited to comment on this ED. As the majority of our Members are not required to prepare general purpose financial reports, they are not directly affected by this proposal. However, our Members do depend on transparent and consistent reporting by organisations they fund as part of their grant assessment processes. Therefore Philanthropy Australia has made a submission which Stewart Leslie was commissioned to prepare for review by Philanthropy Australia’s Technical Committee.
Gina Anderson attended the consultation in Sydney. For details of the consultation and a copy of the Exposure Draft, please go to the AASB website.
Financial Reporting by Unlisted Companies
August 2007
Philanthropy Australia commissioned Mr Stewart Leslie from Causeway Consulting Pty Ltd - a former partner of KPMG and author of the Institute of Chartered Accountants report “Not-for-profit sector reporting: a research project” - to draft a brief submission. This was reviewed by the Philanthropy Australia Technical Committee and was submitted on 3 August 2007.
Submission to the Stronger Community Organisations Project
July 2007
The Department for Victorian Communities instigated the Stronger Community Organisations Project to provide advice on how Government, the community sector and business can work better together to meet the challenges being faced by community organisations. Philanthropy Australia provided a submission to the Project.
State Services Authority Review of Not-for-Profit Regulation
June 2007
In early 2007 the Victorian Premier and Treasurer instigated a review of not-for-profit regulation with the aim of reducing regulatory burden. The Review aimed to identify what practical improvements to Victorian regulatory arrangements for NFPs could be made without unduly reducing accountability and transparency. Philanthropy Australia lodged a submission.
Victorian Government Family and Community Development Committee Inquiry on the involvement of small and medium businesses in corporate social responsibility
June 2007
Philanthropy Australia made a submission to this Inquiry.
Joint Parliamentary Inquiry on Corporate Responsibility
September 2005
Philanthropy Australia, in consultation with its corporate members, made a submission to this Inquiry.
Community Foundations in Australia
2005
Making community philanthropy work: overcoming legal and regulatory barriers facing community foundations in Australia, a submisison to the Commonwealth Government.
Reforming Not-for-profit Regulation
The project was funded by the Australian Research Council and supported by Philanthropy Australia (under the Strategic Partnerships with Industry program). Carried out by University of Melbourne's Centre for Corporate Law and Securities Regulation researcher Susan Woodward, it is a three-year study of the appropriateness of the corporate legal framework for not-for-profit organisations, particularly in terms of accountability and good corporate governance.
Charities Definition Inquiry and Draft Charities Bill
The project was funded by the Australian Research Council and supported by Philanthropy Australia (under the Strategic Partnerships with Industry program). Carried out by University of Melbourne's Centre for Corporate Law and Securities Regulation researcher Susan Woodward, it is a three-year study of the appropriateness of the corporate legal framework for not-for-profit organisations, particularly in terms of accountability and good corporate governance.
The report of the Commonwealth Government's Inquiry into the Definition of Charitable and Related Organisations is now available through the Australian Government Publishing Service or downloadable from the Inquiry website at http://www.cdi.gov.au/. The inquiry was set up in 2000 to examine the legal framework of charitable organisations, including the definition of 'public benevolent institution' and other issues of importance to foundation trustees, staff and potential philanthropists.
On 17 May 2004 the Government announced that the common law meaning of a charity will continue to apply, but the definition will be extended to include certain child care and self-help groups, and closed or contemplative religious orders. The Government has decided not to proceed with the draft Charities Bill.
Download PDF (submission to Board of Taxation)
Download PDF (letter of support from VWT)