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Not-for-profit Law has provided comments to the Australian Charities and Not-for-profits Commission (ACNC) on the draft Commissioner's Interpretation Statement: Public Benevolent Institutions (CIS 2016/03). The Commissioner’s Interpretation Statement is intended to provide guidance to charities, practitioners and ACNC staff on the meaning and scope of 'public benevolent institutions" (PBI), a much sought after charitable subtype that carries significant tax benefits.
Not-for-profit Law broadly supported draft Interpretation Statement, although called for clarification in relation to several key points based on our own experiences working with those organisations grappling with PBI. Overall however, we welcomed the ACNC’s approach to providing plain language guidance on issues of importance to charities, and encouraged the regulator to continue this educative approach into the future.
Read our submission