The Australian Charities and Not-for-Profits Commission (ACNC) has just announced that the reporting deadline for the Annual Information Statement (AIS) due on 31 December 2013 for many charities has been extended to 31 March 2014.
Regardless of size or purpose all charities registered with the ACNC must submit an AIS to the Commissioner each year. The first AIS will need to be completed for the 2012-2013 financial year. However, in some circumstances, charities may not report in accordance with the financial year. If this is the case, the charity will need to apply to the ACNC for a ‘substituted accounting period’ by submitting Form 4A.
The ACNC will approve an application for a substituted accounting period when the charity can show a genuine need for a different reporting period. For example, if your charity has:
- a history of reporting on the calendar year;
- activities that align to a different reporting period; or
- access to reduced accounting or auditing rates during a different reporting period.
The ACNC Commissioner, Susan Pascoe, notes that “the approach takes into account that this is the first time many charities have needed to report to the ACNC, that there may be some charities who are not aware of their obligations and, that the ACNC Act does not allow me to delay the issuing of administrative penalties for late lodgement”.
In early December, the ACNC will be contacting registered charities with information on the ACNC Charity Portal (including a quick guide to using the Portal) and as a reminder to complete the 2013 Annual Information Statement.
If you would like assistance completing your AIS or would like someone to review the document and provide comments before lodgement, please contact Bill d’Apice or Anna Lewis of this office.