This is the second annual report of the ACNC, and the first report to Parliament that covers a complete year of our operation as the regulator of Australia’s charities.
We know from the recently released Australian Bureau of Statistics Satellite Account that in 2012–13 the charity and not-for-profit sector contributed almost $58 billion (4% of all GDP) to the Australian economy. It is growing at a rate of 6% per year and it employs just over one million Australians. The Account also revealed charities and not-for-profits held $176 billion of assets and received income of $107.5 billion. Charities receive billions of dollars of tax concessions from both state and federal governments as well as direct financial support from millions of us every day.
We remain an incredibly generous nation and the spirit of looking after your neighbour and others in your community is very much a part of Australia’s DNA. It is only right that when we support a charity that Australians can expect their time and money is spent properly for the charity’s stated purposes. We should be able to give our time and donations with confidence knowing that charities are properly run, transparent about their governance and financial management, and are properly regulated.