Income Tax Act 2007 section 257JF

Accreditations: supplementary provisions

Section 257JF sets out the detailed requirements and conditions that apply to the accreditation of social impact contractors, including the power to make regulations governing applications, variations, information obligations, penalties and appeals.

• Accreditation must be conditional on compliance with requirements set by Treasury regulations and any additional conditions the accrediting Minister considers appropriate, including information provision obligations
• Regulations may cover applications, variations to accreditation (including duration), and information requirements imposed on accredited contractors or other parties to the social impact contract
• Failure to comply with accreditation conditions can lead to withdrawal of accreditation (backdated to the time of failure or later) and the imposition of penalties
• Provision exists for reviews of, or appeals to the tribunal against, refusals to grant or vary accreditation, the imposition of requirements, withdrawal of accreditation, and penalties imposed