From the Commissioner, The Hon Dr Gary Johns, Australian Charities and Not-for-Profits:
Charities that are incorporated associations in Tasmania (TAS), South Australia (SA) and the ACT are reminded that they will no longer need to submit to their state or territory regulator. Instead they will report once to the ACNC via their Annual Information Statements. Medium and large charities will also need to submit their annual financial reports. The ACNC will then share relevant data with their state regulator.
The two-year transitional reporting period for affected charities to transition to meet ACNC reporting requirements has now ended. From 2019, medium and large charities that are incorporated associations in TAS, SA and ACT must use accrual accounting and ensure their annual financial reports meet all ACNC reporting requirements, including the ACNC's requirements for audits or reviews. More information can be found here for SA, TAS and ACT incorporated associations.
For charities that are incorporated associations in Victoria (VIC) and New South Wales (NSW), 2019 is the second year of the two-year transitional reporting period. These charities will be required to prepare a full financial report that meets ACNC reporting requirements (with conditions for comparative information). From 2020, these charities will need to ensure annual financial reports include comparative information. These charities must also meet the ACNC's requirements for audits or reviews. More information can be found here for NSW and VIC.
For incorporated associations in the Northern Territory (NT), the first year of the two-year transitional reporting arrangements commenced on 1 July 2019. More information can be found here for NT.
Charities are also encouraged to download our Annual Financial Report Checklist.
The Hon Dr Gary Johns
Read more from the Commissioner here:
ACNC – Changes to reporting requirements for Incorporated Associations
Updated: 29th October, 2019