Reporting changes for NSW associations registered as charities with ACNC
From 1 October 2018, New South Wales associations also registered as
charities with the Australian Charities and Not-for-profits Commission (ACNC)
will no longer need to lodge an annual summary of financial affairs with NSW Fair Trading or pay the annual lodgement fee.
Charities must lodge the association’s Annual Information Statement (and financial statements if required) with the ACNC for each financial year.
The information previously provided to Fair Trading will now be collected by the ACNC and sent securely to Fair Trading. The ACNC’s Annual Information Statement for NSW organisations has been updated to include additional questions to collect information required by Fair Trading. Providers must answer all questions or they will need to lodge their annual summary with Fair Trading and pay the annual lodgement fee.
Providers that are required to lodge their annual summary/summaries of financial affairs prior to 1 October 2018 will still need to lodge their annual reports with Fair Trading and the ACNC.
It is important to note that this change only applies to financial reporting obligations to Fair Trading. Other reporting obligations remain the same.
More information can be found on the NSW Fair Trading website and the ACNC’s Regulation of charities webpage.