Australian Charities and Not-for-profits Commission Act 2012 (Cwth)

CHAPTER 3 - RESPONSIBILITIES OF REGISTERED ENTITIES  

PART 3-2 - RECORD KEEPING AND REPORTING  

Division 60 - Reporting  

Subdivision 60-F - Substituted accounting periods  

SECTION 60-85   COMMISSIONER MAY APPROVE A DIFFERENT ACCOUNTING PERIOD  

60-85(1)    
The Commissioner may allow a registered entity to adopt an accounting period which is a period of 12 months ending on a day other than 30 June (that is, a 12-month period that does not align with the financial year), if the registered entity applies to the Commissioner in the approved form.

60-85(2)    
If the registered entity adopts such an accounting period, this Division applies in relation to a financial year that starts after the entity adopts the new accounting period as if:

(a)    each reference in this Division (not including this section) and sections 205-25 and 205-35 to the financial year were a reference to the accounting period that starts during the financial year; and

(b)    the reference in subsections 60-5(2) and 60-10(2) to 31 December were a reference to the last day of the 6-month period after the end of the accounting period.

60-85(3)    
A registered entity seeking to adopt such an accounting period may apply, in the approved form, to the Commissioner for the Commissioner to make a decision under subsection (1) .