The administration of not for profit organisations will be easier and more efficient because of a new bill introduced this week by the Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP. Parliamentary Secretary for Social Inclusion and the Voluntary Sector, Senator Ursula Stephens, welcomed the bill saying that it was another example of the Government working to tackle the administrative challenges faced by Australia’s not for profit organisations. “The recently signed National Compact with Australia’s third sector commits the Government and the sector to a more open, productive and respectful relationship. “Part of this new relationship involves reducing barriers to efficiency and lowering the administrative burden on critical community organisations.” Dr Stephens said. The Corporations Amendment (Corporate Reporting Reform) Bill 2010 will improve Australia’s corporate reporting framework, benefiting many of the more than 700,000 third sector organisations in Australia.

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