The Australian Charities and Not-for-profits Commission’s (ACNC) transitional reporting arrangements have been extended to cover the 2018 and 2019 reporting periods.
The ACNC Commissioner, the Hon Dr Gary Johns, has exercised his discretion, allowing for the arrangements to continue.
Transitional reporting arrangements allow the ACNC to accept reporting originally prepared for other government agencies. These include:
- Financial reports lodged by some incorporated associations, co-operatives and fundraisers with state and territory regulators where streamlined reporting arrangements are not yet in place.
- Financial questionnaires and statements lodged by non-government schools with the Federal Department of Education and Training.
- Annual returns and financial reports lodged by Indigenous corporations with the Office of the Registrar of Indigenous Corporations.
Transitional reporting arrangements reduce the reporting burden on charities that are required to report to multiple government agencies; an important aspect of the ACNC’s red tape reduction strategy.
Dr Johns said the extension to the arrangements would continue to allow charities to meet their financial reporting obligations to the ACNC without having to produce separate financial reports and statements.
“Transitional reporting arrangements are an important part of the ACNC’s strategy to reduce red tape for charities,” he said.
“They aim to reduce the burden for charities that are required to report to multiple government agencies, while balancing the need for charity transparency and accountability.
“I am happy to be able to use my discretion to extend these arrangements.”
To more on ACNC transitional reporting arrangements, click here.