Duty to prepare annual returns

41 Duty to prepare annual return

(1)

Every charitable entity must ensure that, within 6 months after each balance date of the entity, an annual return that complies with subsection (2) is—

(a)

completed in relation to the entity and that balance date; and

(b)

dated and signed on behalf of the entity; and

(c)

sent or delivered to the chief executive.

(2)

The annual return of a charitable entity must—

(a)

be in the form, contain the particulars, and comply with the directions as to the preparation of those returns that are prescribed by the chief executive under section 42; and

(b)

be accompanied by a copy of the financial statements of the charitable entity (or, in the case of section 46(1A)(b), of each entity that forms part of the single entity) for the most recently completed accounting period.

(3)

For the purposes of this Act,—

(a)

an entity may nominate a balance date for the entity—

(i)

in the application for registration of the entity as a charitable entity; or

(ii)

in the case of a single entity or an entity that forms part of a single entity, in the application for registration of the single entity as a charitable entity; and

(b)

a charitable entity must be treated as having a balance date of 31 March in each calendar year if a balance date for that charitable entity has not been nominated under paragraph (a).

(4)

Subject to subsections (5) and (6), an entity must have a balance date in each calendar year.

(5)

An entity may change its balance date for the purposes of this Act either—

(a)

without the approval of the chief executive if—

(i)

the period between any 2 balance dates does not exceed 15 months; and

(ii)

the entity continues to have a balance date in each calendar year; or

(b)

with the approval of the chief executive before the change is made.

(6)

The chief executive may approve a change of balance date with or without conditions.

(7)

Subsection (3)(b) is subject to subsections (5) and (6).

Section 41(1)(c): amended, on 1 July 2012, by section 16(1) of the Charities Amendment Act (No 2) 2012 (2012 No 43).

Section 41(2): replaced, on 1 April 2015, by section 19 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 41(5)(a): amended, on 1 July 2012, by section 16(1) of the Charities Amendment Act (No 2) 2012 (2012 No 43).

Section 41(5)(b): amended, on 1 July 2012, by section 16(1) of the Charities Amendment Act (No 2) 2012 (2012 No 43).

Section 41(6): amended, on 1 July 2012, by section 16(1) of the Charities Amendment Act (No 2) 2012 (2012 No 43).