Amended reporting regulations have been approved, that will come into effect from the 2022 Annual Information Statement (AIS) reporting period, and later.
These amendments affect:
Charity size thresholds based on revenue
Reporting period revenue thresholds will rise for all three categories as follows:
| Charity Size | Current | From 2022 AIS reporting period |
| Small | Revenue under $250,000 | Revenue under $500,000 |
| Medium | Revenue between $250,000 and $1m | Revenue between $500,000 and $3m |
| Large | Revenue over $1m | Revenue over $3m |
Disclosure of remuneration for key management personnel
Large charities will need to disclose remuneration of key management personnel in special purpose financial reports. Key management personnel are senior managers and charity leaders such as directors, CEOs, and board members.
Disclosure of related party transactions.
For medium and large charities, there will be increased requirements to disclose related party transactions in special purpose financial statements. This change applies from the 2023 AIS reporting period.
To view further detail from the ACNC, click here.
