Charity size
In Australia, charities can be classified as small, medium or large. Charity size is based on total annual revenue:
- Small charities have annual revenue under $250,000
- Medium charities have annual revenue of $250,000 or more, but under $1 million
- Large charities have annual revenue of $1 million or more.
A charity's financial reporting and other obligations to the ACNC depend on whether it is considered a small, medium or large charity, and are summarised in the table below.
Financial reporting obligations
| Small | Medium | Large | ||
| Annual Information Statement |
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| Annual financial report | (optional) | |||
| Basis of accounting | Cash or accrual | Accrual 1 | Accrual 1 | |
| Type of financial statement 2 | Small charities can choose to submit a financial statement. The type of financial statement can be the same as a Medium or Large charity |
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Review or audit for annual financial report | No ACNC obligation for review or audit | The ACNC requires your financial reports to be either reviewed or audited 2 | The ACNC requires your financial reports to be audited | |
1 Unless the charity is a Basic Religious Charity or other transitional reporting arrangements apply.
2 The charity constitution/governing document or grant funding agreements may state whether the financial report needs to be reviewed or audited.
Both medium and large charities may use transitional reporting arrangements in their financial reporting.
Other obligations
| Small | Medium | Large | |
Time to notify the ACNC of changes to its:
| ASAP but no later than 60 days | ASAP but no later than 28 days | |
| Administrative penalties for not submitting documents | More on administrative penalties |
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