Below news item is from Australian Charities and Not-for-profits Commission.
We are pleased to announce that the Victorian Government has signed an exemption order which will decrease your charity’s reporting requirements and save you money.
We have identified your organisation as both a registered charity and an incorporated association in Victoria. If that is correct – and your charity’s financial year ends on or after 30 June 2018 – you may no longer need to:
lodge an annual statement for that association with Consumer Affairs Victoria pay an annual statement lodgement fee to Consumer Affairs Victoria Your incorporated association must continue to lodge its Annual Information Statement with the ACNC for each financial year, and must continue to follow the ACNC’s regulatory requirements.
Taking advantage of the new reporting exemption
The exemption comes into effect on 1 July 2018.
Information your incorporated association used to provide to Consumer Affairs Victoria will now be collected by the ACNC. The ACNC will then pass this information onto Consumer Affairs Victoria on your behalf.
The ACNC’s Annual Information Statement has been updated to include additional questions to collect information on behalf of Consumer Affairs Victoria. To take advantage of this new reporting exemption, incorporated associations must respond to all these questions.
If your incorporated association chooses not to answer any of the questions, it will still have to lodge its annual statement with Consumer Affairs Victoria, as well as pay an annual statement lodgement fee.
The new reporting exemption only applies to annual reporting obligations.
All incorporated associations must continue to notify Consumer Affairs Victoria of any changes – such as to the association’s name, details or rules – via the myCAV website. And all incorporated associations must also continue to submit financial statements to members at their annual general meeting.
Note: The exemption will not be available to charities that have been approved by the ACNC to withhold financial details (for example, revenue) or financial reports from the ACNC Charity Register.
In addition, incorporated associations that form part of a reporting group will not be able to take part in these arrangements.