Lodging annual returns

Incorporated associations - annual revenue over $250,000

  • Associations with revenue over the $250,000 threshold must lodge an Annual Return with CBOS.
  • The Annual Return must contain:
    • an income and expenditure statement
    • a list of names and residential addresses of the committee members and
    • an Auditor's Report confirming the accuracy of the income and expenditure statement.
  • Lodge an Annual return:

Incorporated associations - annual revenue below $250,000

  • An association must prepare and submit financial statements however the annual financial audit requirement has been removed.
  • An association should review their constitution and either:
    • take advantage of the $250,000 threshold and remove the annual audit requirement by changing the constitution by Special Resolution; or
    • elect to continue to have audited statements or add the requirement into the constitution
  • Very small organisations no longer have to provide a special resolution for an audit exemption
  • Changes to the Associations Incorporation (Model Rules) Regulations 2007 have been made

Incorporated association which is a registered charity

  • An organisation registered and complying with the Australian Charities Not-for-profits Commissioner (ACNC) does not have to submit financial statements to the Tasmanian Commissioner for Corporate Affairs.
  • The Commissioner can still request a copy of information your organisation has supplied to the ACNC.
  • If your organisation fails to lodge a return with the ACNC, the Commissioner will require your organisation to comply with the Tasmanian reporting requirements.
Updated: 02 Oct 2020