There are a number of benefits of registering your corporation as a charity with the Australian Charities and Not-for-profits Commission (ACNC), including tax concessions.
A charity is a not-for-profit organisation that is for the benefit of the public. There are other rules for being a charity too which the ACNC looks after.
The ACNC has a fact sheet on its website about registering your corporation as a charity.
Here are some tips for getting ready to register your corporation as a charity:
- make sure all of your corporation's details are correct—such as name, document access address, and the names, contact details and date of birth for all directors and officers
- be clear about your corporation's charitable purpose (your object/goal/aim) and that it benefits the public
- think about what 'subtype' of charity your corporation might be—there's a list on the ACNC website
- review your rule book to ensure the charitable purpose is clear, it has a rule about being a not-for-profit and a rule about what happens to assets when your corporation winds-up
Contact ACNC for information about who can register as a charity, the registration process, and ongoing obligations to the ACNC. The ACNC has Aboriginal Liaison Officers who are available on the phone to help.