Lodge an annual summary of financial affairs: Tier 1 and 2 associations

Introduction

Tier 1 (large) and Tier 2 (small) associations are required to lodge an annual summary of their financial affairs at the earlier date of either:

• within one month of the date of the annual general meeting (AGM) for the current financial year, or
• no later than 7 months after the end of the financial year.

Late fees apply if you lodge your annual summary more than one month after the AGM.

Definitions

Tier 1 and Tier 2 associations are defined by the gross receipts or total revenue (income or money collected) and current assets (cash, bank accounts or shares) held in the association’s financial year.

A Tier 1 association has:

• gross receipts/total revenue exceeding $250,000 or
• current assets exceeding $500,000

A Tier 2 association has:

• gross receipts/total revenue of less than $250,000 and
• current assets of less than $500,000.

Eligibility

Any representative of an association authorised by the committee is eligible to lodge an annual summary of financial affairs.

What you need

• your name and contact details
• the association details
• the number of members, committee members and employees
• details of the current public officer and official address
• the date of the annual general meeting
• financial information such as total revenue, expenditure and current assets
• for Tier 1 associations only:
  • the financial statements for the relevant financial year
  • the auditor's report for those financial statements
  • if the association is a trustee of a trust, a separate income and expenditure statement and balance sheet for each trust
• your payment of the lodgement fee that appears on the online form.

Note: For more information about financial reporting requirements for associations, visit the NSW Fair Trading website.

How to lodge

1. Gather the required information and documents.
2. Complete and submit the relevant online form with the required documents and your payment:
   • Form A12-T1 Annual summary of financial affairs – Tier 1
   • Form A12-T2 Annual summary of financial affairs – Tier 2

More information

• Tier 1 and Tier 2 associations have different requirements for financial reporting, lodgement forms and fees.
• If the details of the association's public officer or official address have changed since your last lodgement, you should also lodge a Notice of appointment of public officer and Notice of change of association address.
• If you need any assistance call 1800 502 042.

Payment methods

The amount payable and methods of payment are shown on the form.