The Assistant Treasurer, Bill Shorten, has released an exposure draft of legislation relating to the reform of Public Ancillary Funds (PuAFs) and also a set of draft Guidelines for PuAFs. There will now be a further period of consultation.
The main provisions which will interest Members are:
The exposure draft and draft guidelines are available for download from Treasury’s website at: http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=2048
Philanthropy Australia will be providing a response to the draft legislation and guidelines.
We are currently in the process of reviewing the new material and invite all affected Members and other affected organisations to do likewise.
For more information:
Jul. 14, 2011
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