Annual return factsheet for associated entities
What is an associated entity?
An associated entity is an entity that either:
- is controlled by one or more registered political parties (RPPs)
- operates wholly, or to a significant extent, for the benefit of one or more RPPs
- is a financial member of a RPP
- on whose behalf another person is a financial member of a RPP
- has voting rights in a RPP
or - on whose behalf another person has voting rights in a RPP.
What is an annual return?
An annual return for an associated entity summarises the amounts received and expenditure and debts incurred by the associated entity during a financial year. We use annual returns to check that entities are complying with funding and disclosure laws including the disclosure of political donations.
Division 3C of Part 12 of the Electoral Act 2002 (external link) outlines the annual return requirements.
Do I need to submit an annual return?
Yes. The registered agent of an associated entity must complete an annual return on behalf of the associated entity regardless of whether the associated entity received any political donations or incurred any political expenditure.
However, only information in relation to the State campaign account(s) is required, so you may submit a nil return. More information about state campaign accounts.
An annual return is required for the whole financial year or the relevant part of the financial year during which the associated entity met the definition of an associated entity under the Electoral Act 2002 (external link).
When are annual returns due?
Annual returns are due 16 weeks after the end of the financial year, which is 20 October each year.
You can submit an annual return at any time from 1 July each year.
How do I submit an annual return?
You must submit the associated entity’s annual return using our online disclosure system, VEC Disclosures.
A user guide for submitting annual returns through VEC Disclosures is available here:
- Associated entity - annual return user guide (PDF, 1.4MB)
- Associated entity - annual return user guide (Word, 4.9MB)
What information do I need to include?
You must submit the following information in relation to the associated entity’s State campaign account(s) for the financial year (including GST):
- total income
- total disclosed political donations
- total undisclosed political donations (under the disclosure threshold)
- the number of undisclosed political donors for the total undisclosed political donations
- total non-political donations
- total expenditure
- outstanding debts
You must have your annual return audited and include a certificate of audit from an independent auditor.
As an associated entity, the following information is also required to be lodged with, or as soon as possible after lodging, the annual return:
- a loan, grant or donation statement under section 237 of the Fair Work (Registered Organisations) Act 2009 (Cth) (Fair Work (RO) Act)
- a general-purpose financial statement under section 253 of the Fair Work (RO) Act
- your financial statements under section 102 of the Associations Incorporation Reform Act 2012 (Vic)
- a financial report under section 319 or 320 of the Corporations Act 2001 (Cth) (Corporations Act).
Explanation of requirements
Do annual returns need to be audited?
Yes. You must have your annual return audited and include a certificate of audit from an independent auditor, advising that the return has been audited in accordance with Australian Accounting Standards as specified in s. 334(1) of the Corporations Act 2001 (Cth).
The audit certificate must state that the auditor:
- was given full and free access at all reasonable times to all accounts, records, documents and papers relating directly or indirectly to any matter required to be specified in the statement; and
- examined the material referred to in paragraph (a) for the purpose of giving the certificate; and
- received all information and explanations that the auditor requested in respect of any matter required to be specified in the statement; and
- has no reason to believe that any matter stated in the statement is not correct.
You can use this audit certificate template (PDF).
Can the public see my annual return?
Yes. We are required to publish an annual return summary on VEC Disclosures on or before 31 December each year.
We do not publish donor addresses as they are confidential under the Electoral Act 2002.
What happens if I don’t submit an annual return?
If you do not submit an annual return, you may be fined.
The fine for this offence is 200 penalty units (external link).
Can I get help to complete my annual return?
Yes. Follow this checklist (Word).
If you have any questions, contact the Funding and Disclosure Unit by email to disclosures@vec.vic.gov.au or call 131 832.