ACNC Annual Information Statement and Double Defaulters at Risk

By June 17, 2016NFP Accounting

The Annual Information Statement (AIS) is required to be lodged with the ACNC for every completed financial year.

Depending on charity size the following reporting options are mandatory:

* Small charities – < $250,000 – only AIS
* Medium charities – $250,000 to $1,000,000 – AIS and financial report either reviewed or audited
* Large charities – + $1,000,000 – AIS and audited financial report

The due dates for the AIS and financial report are generally 6 months after the end of your financial reporting period, so for 31 December year end this date is fast approaching.

The ACNC has also recently released a list of those charities that are at risk of being double defaulters if they don’t lodge by 30 June.

The ACNC has also stated that double defaulters are at risk of losing their registration being revoked which would also mean that they would lose their entitlements to charity tax concessions which is an extremely serious punishment.

The moral of the story, make sure you take the ACNC lodgements seriously and lodge on time.

Click here for details of those charities at risk.

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