For the first time Australian charities will have a dedicated regulator with the official launch of the Australian Charities and Not-for-profits Commission (ACNC), said Assistant Treasurer David Bradbury.
The ACNC was formally launched today at Mission Australia's Charcoal Lane restaurant in Melbourne, where staff from the new regulator joined with representatives of the charitable and not-for-profit (NFP) sector.
"Today we celebrate the start of a new era for charities," said Mr Bradbury.
"In the ACNC, we finally have a dedicated regulator that will drive work to cut red tape for charities and support transparency and accountability.
"Charities will have a regulator that will provide education and guidance to the sector while also helping the sector consolidate its strong standing amongst the public."
The ACNC will be responsible for registering and regulating charities, while also working with the sector to provide information and assistance.
At the Commonwealth level, the ACNC will administer a Charity Passport underpinned by a 'report-once, use-often reporting framework'.
"The Charity Passport is a collection of data that charities will report once to the ACNC to meet the baseline corporate and financial reporting requirements of Australian Government agencies" said Mr Bradbury.
The Minister for Social Inclusion, Mark Butler MP said that the ACNC was a key part of the Gillard Government's NFP reform agenda, which aims to support a vibrant, independent and innovative NFP sector.
"The new ACNC will drive reform to cut red tape and is a key part of delivering a national approach to NFP regulation," said Minister Butler.
"The ACNC also provides a platform for a national approach to NFP regulation, with South Australia already announcing it will make amendments to its incorporated associations and charitable collections legislation to harmonise reporting requirements.
"I congratulate South Australia for being the first state to lead the way in this important reform process, and I call on other States and Territories to follow South Australia's example and help deliver the nationally streamlined regulatory framework which the NFP sector have long asked for and which the NFP sector deserves."
The Government will also shortly be releasing the ACNC Governance Standards and Financial Reporting Regulations for consultation until mid-February.
The ACNC will be holding an information road show for charities in early 2013, visiting urban and regional areas. Further information about the ACNC can be found at www.acnc.gov.au or by calling 13 ACNC (13 22 62).