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ACNC Reporting Thresholds are changing – 1/7/22

The ACNC are changing the levels of reporting thresholds for the financial years commencing 1st July 2022 as per the table below.  The changes will soon see thousands of charities re-classified – particularly from medium-sized to small – with their reporting obligations to the ACNC to change so they more appropriately match the size of their operations. The table below compares the old and new revenue thresholds for determining whether your charity is small, medium or large for financial reporting purposes.

Size of charityCurrent revenue thresholds for the 2021 AISRevenue thresholds for from 1 July 2022 for the 2022 AISAudit/review requirement
SmallLess than $250,000Less than $500,000Only have to complete their Annual Information Statement online.
Medium$250,000 – $999,999$500,000 – $2,999,999Financial report can be either reviewed or audited.
Large$1 million or more$3 million or moreFinancial report must be audited

On the 15 February, ACNC held a webinar providing more information to charities about the changes.