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:
  • on-line
  • at any Service Tasmania shop (external link)
  • by post to:
    • Registration Services
      Consumer, Building and Occupational Services
      PO Box 56,
      Rosny Park TAS 7018

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.