Red tape reductions

In the effort to continue to streamline reporting for registered charities, ACNC commissioner Susan Pascoe has exercised her discretion to accept annual financial reports lodged with some state and territory regulators for the 2017 financial year.

The move will save registered charities that are facing duplicate reporting obligations significant time and resources.

Ms Pascoe has extended by a month to 31 January the due date for submission of statements for charities using a standard reporting period.

For charitable ancillary funds with a reporting period ending 30 June, the due date for statements has been extended to 28 February.

For ancillary funds with an approved substituted-accounting period, the 2017 AIS due date has been extended to the 15th day of the seventh month after the close of the period.

If your ancillary fund’s approved substituted-accounting period is 1 January to 31 December, then the 2017 AIS would be due on 15 July.

From next year, the due date for statements from charitable ancillary funds will be six months from the end of the reporting period.

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