Changes for charities and prescribed associations in South Australia
Reporting requirements for charities will be streamlined under changes to legislation that will commence in early 2017.
Charities that are registered with both Consumer and Business Services (CBS) and the Australian Charities and Not-for-Profits Commission (ACNC) will only need to submit information to the ACNC. However charities will still be required to lodge their financial statements for the statement period stipulated on their most recent licence with CBS following notification to CBS of their intention to act as a collector in South Australia.
Prescribed incorporated associations registered with the ACNC will still be regulated under the Associations Incorporation Act but will not be required to lodge periodic returns under this Act with CBS if certain information has been provided to the ACNC.
CBS will soon contact all licensed charities to provide further information.
Statutes Amendment (Commonwealth registered Entities) Act 2016 received Royal Assent on 2 June 2016.
Incorporation is a voluntary, simple and inexpensive means of establishing a legal entity, separate from the individual members. It is an alternative to forming, for example, a company limited by a guarantee, or co-operative. It is particularly suitable for small, community-based groups. In other words, the association is considered by law to have a distinct identity that continues despite changes to its membership.
Incorporated Associations are not profit organizations. Any profits made should be kept by the association and should not used by members for personal gain.
- How to Incorporate: a guide to the Associations Incorporation Act 1985. For a hard copy of this document phone 8204 8514.