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ARTICLE · 16 DECEMBER 2014

Financial reporting by charities - are you ready?

Moore Australia
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Many charities in Australia will soon be required for the first time to report their financial results to the public.

AustraliaCorporate/Commercial Law
Joe Shannon
Joe Shannon
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31 December 2014 is fast approaching which means that many Charities in Australia will be required for the first time to report their financial results to the public. Information submitted will include income and assets as well as how funds are spent.

The Australian Charities and Not-for-profits Commission (ACNC) reached its 2nd birthday on 3 December 2014. With the Government's bill to abolish the ACNC not progressing before Parliament's summer break the first financial reports for June year ends are due to be lodged by 31 January 2015, the ACNC having just announced a month's extension for lodgement of Annual Information Statements. Charities with a December year end will for the first time have to provide their financial reports by 30 June 2015.

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