Business advice
and accounting

Our purpose is to help you on your journey as you grow. Learn more about our history, partners and purpose.

Our purpose is to help you on your journey as you grow. Learn more about our history, partners and purpose.

Your partners for Business Service and Advisory, Taxation, Audit, Fraud and Risk.

Whatever your business, industry or family office, from local or international institutions we bring extensive expertise.

We're one team with a purpose and passion for what we do. Learn about our culture and career opportunities available to you.

Uncovering insights, trends and inspiration to help business grow in an ever-changing world.

We are always looking for ways to engage and give back to our community.

Telephone: +612 9283 1666
Email: admin@esvgroup.com.au

Level 13, 68 York Street,
Sydney NSW 2000

Why us

Our purpose is to help you on your journey as you grow. Learn more about our history, partners and purpose.

What we do

Your partners for Business Service and Advisory, Taxation, Audit, Fraud and Risk.

Who do we help

Whatever your business, industry or family office, from local or international institutions we bring extensive expertise.

Work with us

We're one team with a purpose and passion for what we do. Learn about our culture and career opportunities available to you.

What we think

Uncovering insights, trends and inspiration to help business grow in an ever-changing world.

Working to give back

We are always looking for ways to engage and give back to our community.

Contact us

Telephone: +612 9283 1666
Email: admin@esvgroup.com.au

Level 13, 68 York Street,
Sydney NSW 2000

Changes to charity reporting thresholds effective 1 July 2022

9 February 2022

by Travas Burns & Karli Connors

Changes to charity reporting thresholds approved by the Council on Federal Financial Relations are effective soon.

From 1 July 2022, small charities registered with the Australian Charities and Not‑for‑profits Commission (ACNC) will see their financial reporting annual revenue threshold increased from $250,000 to $500,000.

Changes also due for medium sized charities with the financial reporting threshold being lifted to a range of $500,000 to $3 million.

The changes, approved by the Council on Federal Financial Relations, will mean nearly 2,500 small charities will no longer be required to produce reviewed financial statements, however directors are advised to consider whether an audit or review is still required under the charity’s constitution.

 

Proposed thresholds for financial reporting for ACNC-registered charities

Charity Size Proposed annual revenue threshold Minimum ACNC Reporting requirements
Small less than $500,000 Annual Information Statement
Medium $500,000 or more and less than

$3 million

Annual Information Statement and reviewed financial report
Large $3 million or more Annual Information Statement and audited financial report

 

In addition, from 1 July 2023, all charities will be required to report related-party transactions in their annual reporting to the ACNC.

This will increase transparency of transactions with organisations that pose a risk of conflicts of interest.

Please feel free to contact your ESV engagement partner should you have any questions regarding the above changes.