Annual reporting
The general report
Every Aboriginal and Torres Strait Islander corporation lodges a general report every financial year, whatever its size and whatever its income. It is a picture of the corporation as at year end: who it is, who runs it, and its basic numbers. Lodged between 1 July to 31 December.
Who has to lodge one
What the Act says
“All Aboriginal and Torres Strait Islander corporations must lodge a general report every financial year.”
What that means
There is no size exemption and no income threshold. If your corporation is on the register, it lodges a general report, including a corporation that did nothing all year, held no money and employed no one.
A dormant corporation is still a reporting corporation.
Checked against ORIC — General reports, .
What goes in it
The general report covers three groups of information about the corporation for the year.
The corporation
- Name, Indigenous corporation number (ICN) and ABN
- Size
- Main place of business
- Registered office and document access address
- Contact details, and what the corporation actually does
Its people
- Contact person and secretary
- Directors
- Members
Basic financial and employee information
- Income and assets
- Deductible gift recipient status
- Number of employees
It also carries a declaration, by a director or by the secretary for large corporations. Where a delegate of the directors lodges it, the declaration is based on a resolution of the directors, which means the board has to have actually resolved something rather than someone lodging on the board’s behalf informally.
The member list is not the member register
This trips corporations up. Each year the general report includes a list of members. That is not the corporation’s register of members, which stays with the corporation and contains more than the list does.
It is worth getting the list right. Membership determines who can vote, who can call a meeting, and who the corporation actually answers to, and a member list that has drifted from reality is a governance problem waiting for an AGM.
Lodge early, not accurately-later
The Registrar’s own advice is that lodging as soon as possible after the financial year ends helps keep the information accurate, which is the opposite of how most boards treat it.
There is a practical reason. The general report describes the corporation as at year end. The longer you leave it, the more the answers drift from the position you are actually reporting on, and the more likely it is that whoever knew something has moved on.
It is also the report the Registrar is least likely to excuse. You can apply for an exemption, but the Registrar is unlikely to grant one for a general report. Treat it as fixed and plan the rest around it. See reporting deadlines.
Where it fits
The general report is one of up to four. Which of the others apply depends on your corporation’s registered size and income: financial report, audit report, and directors’ report. The checker will tell you which.
Frequently asked questions
Does every corporation have to lodge a general report?
Yes. All Aboriginal and Torres Strait Islander corporations must lodge a general report every financial year, whatever their size or income. It is the one report nobody is exempt from by size.
When is it due?
General reports are lodged between 1 July and 31 December each year. Lodging as soon as possible after the financial year ends helps make sure the information is accurate.
Can we get an exemption from the general report?
It is possible to apply, but the Registrar is unlikely to grant an exemption for a general report specifically. If you need more time for other reports, an extension is a more realistic request than an exemption from this one.
Do we have to send ORIC our whole register of members?
No. A general report contains a list of members, which is not the same thing as the register of members. The register stays with the corporation.
Who signs it?
It requires a declaration by a director of the corporation — or the secretary, for large corporations. If a delegate of the directors lodges it, the declaration is based on a resolution of the directors.