Every year, charities registered with the Australian Charities and Not-for-profits Commission (ACNC) must lodge an Annual Information Statement. The Annual Information Statement requires charities to disclose information about their operations and finances over the previous twelve (12) month period.
The information submitted is important for charities to remain transparent to the public and helps ensure we have a trustworthy charitable system. Every member of the public can look up a charity registered with ACNC and view the charity’s annual statement and financial statement. This is why Australia has one of the most trustworthy charity systems in the world – we have requirements for charities to remain open and honest about their work and finances.
ACNC will publish most of the information shared in an Annual Information Statement, while excluding any personal information. The Annual Information Statement is also used to assist researchers who contribute to the charity sector. ACNC is able to monitor trends in the non-profit sector as the data collected is compiled and organised.
In certain circumstances, some charities may not be required to submit an Annual Information Statement, but these rare exceptions typically have other governing bodies who they report to.
Any charities who work on a standard financial year (1 July to June 30) must submit their 2022 Annual Information Statement now if they have not already done so. The due date for these charities that has now passed. If you are a charity who missed the deadline, you should immediately log into your Charity Portal and submit now to avoid potential penalties.
If your charity operates on a calendar financial year (1 January to 31 December) you have until 30 June to submit your 2022 Annual Statement.
The ACNC does not charge charities a fee to submit the Annual Information Statement. You can easily submit the Annual Information Statement by logging onto your charity portal and click ‘Submit Annual Information Statement’.
If you do not submit your Annual Information Statement, you could be at risk of losing your charitable status. It is very important for charities to take this annual responsibility seriously.
If you have questions or concerns about your charity or not-for-profit company, please contact us today.
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