Under the Australian Charities and Not-for-Profits Commission (ACNC) Act 2012 all registered charities are required to prepare and lodge Annual Information Statements. Registered charities must submit an Annual Information Statement (AIS) to the ACNC Commissioner no later than 6 months after the charity’s end of financial year (i.e. due 31 December 2013 unless a substituted accounting period has been approved by the ACNC). Failure to comply with this requirement may result in an administrative penalty being payable.
The Council of Australian Governments’ Regulatory Impact Assessment of Potential Duplication of Governance and Reporting Standards for Charities (RIA) states that the ACNC Commissioner has approved a draft outline of what entities must include in their AIS for 2012-13. The RIA suggests that no financial information will be required for this transitional (2012-2013) AIS.
The AIS for following years is likely to require more detailed information than the transitional AIS in addition to some basic financial information for small entities and is likely to be released for consultation later this week.
The 2012-2013 transitional AIS is likely to require that entities provide information regarding:
A. The details of the charity
- Postal and email address
- Financial year
- Qualification as a basic religious charity
- Group status
B. Activities and beneficiaries
The entity will be required to detail their activities in the financial year and whom these activities benefited (i.e. who they helped). They will also be required to include how their charitable purposes were pursued and if there are any planned changes to the way charitable purposes will be pursued in the future.
C. Resources and operating locations
Entities will be required to provide details of employees and volunteers (headcount) and the number of volunteer hours. They must additionally outline the charity’s activities in States and/or Territories and, if applicable, the charity’s activities outside Australia.
D. Reporting and regulatory obligations – (all of the questions in this section are optional)
- Details of reporting obligations to Australian government entities
- Reporting obligations to State and/or Territory governments
- Time spent completing reporting obligations
The ACNC Commissioner may approve different forms for different entities, for example according to size.
If you require any further information or have concerns in relation to Annual Information Statements, please contact Bill d’Apice or Anna Lewis.