Annual Information Statement

The ATO and ACNC are reminding charities and ancillary funds that the annual reporting period is fast approaching.

Charities

Charities registered with the ACNC (that have an annual year end of 30 June) have less than a week to submit their Annual Information Statement (AIS) to the ACNC. The AIS should be lodged via the online charity portal no later than 31 January 2017. We remind charities that the date their AIS is lodged will be displayed on the ACNC Register and a late AIS lodgement will be listed in red, to encourage charities to report on time.

Should you require any assistance with the preparation of your AIS or, if you would just like a review to double check the information that will be provided, please do not hesitate to contact us.

Ancillary Funds

Ancillary Funds registered with the ACNC

Charitable Ancillary funds were previously required to lodge annual reports with both the ATO and ACNC. However, recent changes to the reporting requirements of charitable ancillary funds have removed these dual reporting requirements. Accordingly, ancillary funds registered with the ACNC are now only required to lodge an AIS with the ACNC. This removes the separate reporting requirement to the ATO. Charitable Ancillary Funds have until 28 February 2017 to lodge their AIS with the ACNC.

Ancillary Funds not registered with the ACNC

Ancillary funds which are not registered with the ACNC must lodge an Annual Information Return with the ATO by 28 February 2017. Funds that are not able to lodge by the due date should contact the ATO on 1300 130 248 to seek an extension of time, as penalties will apply for applications lodged late without an extension.

Please do not hesitate to contact a member of our team if you require assistance with your charity or ancillary fund reporting.

Bill d’Apice, Partner | +61 2 9233 9013 | wdapice@makdap.com.au

Anna Lewis, Associate | +61 2 9233 9031 | alewis@makdap.com.au

ACNCACNC Deadline Approaching

Have you submitted your 2013 Annual Information Statement?

Regardless of size or purpose all charities registered with the ACNC must submit an Annual Information Statement to the Commissioner each year. The first AIS will need to be completed for the 2012-2013 financial year. If your charity has a financial year calendar (ending 30 June), its first Annual Information Statement (AIS) is due on 31 March 2014.

Continue Reading ACNC Annual Information Statement Deadline Approaching

Parliament HouseOn Thursday last week (the last sitting day before the Christmas break), the Senate adjourned debate on the Social Services and Other Legislation Amendment Bill 2013 (which included the amendment to delay the Charities Act) and ran out of time to return to the debate before rising for the holidays.

This means that the Charities Act which includes a definition of charity will commence on 1 January 2014 as planned. This is in contrast to last week when we expected that the commencement of the Charities Act was likely to be delayed. Usefully, David Locke, Assistant Commissioner at Australian Charities and Not-for-profits Commission (ACNC), has stated that the ACNC intends to put out guidance for the sector regarding the new definition.

Importantly, charities that are already recognised as having a charitable purpose prior to the commencement of the Act will continue to be recognised as charities in accordance with section 12(k) of the Charities Act.

Continue Reading Charities Act to Commence on 1 January 2014

ACNCSome Good News From the ACNC!

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.

Continue Reading ACNC Annual Information Statement – 2013 Deadline Extended

Completing formCharities registered with the Australian Charities and Not-for-Profits Commission (ACNC) are required to submit an Annual Information Statement (AIS) each year.

To make AIS reporting easier for organisations such as a corporate trustee administrating multiple trusts, or an administrative office for multiple religious charities,  the ACNC released form 4C Annual Information Statement – Bulk Lodgement yesterday.

Continue Reading Are you eligible to Bulk Lodge your Annual Information Statement with the ACNC?

ACNCSummary – Details regarding the 2013 transitional and 2014 ACNC Annual Information Statements have been released.

Earlier this month we foreshadowed that the Australian Charities and Not-for-Profits Commission (ACNC) would release the proposed information to be included in the compulsory Annual Information Statement (AIS) under the ACNC Act.

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, and it is proposed that the transitional AIS will require less information than future years.

Continue Reading AIS Details Released for Consultation