Annual returns for associated entities

An associated entity is a body that either:

is controlled by one or more registered political parties (RPP)
operates wholly, or to a significant extent, for the benefit of one or more registered political parties
is a financial member of a political party
on whose behalf another person is a financial member of a registered political party
has voting rights in a registered political party
or
on whose behalf another person has voting rights in a registered political party
but is not a nominated entity of a registered political party

Annual returns

An annual return is a summary of money received, spent, and owed by a political participant in a financial year. For associated entities the returns relates to your state campaign account. More information about state campaign accounts

We use annual returns to check that entities are complying with all funding and disclosure laws. This includes disclosing relevant 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. Your registered agent must complete an annual return for the associated entity regardless of if the entity received any political donations or incurred any political expenditure.

Only information about your state campaign accounts is required. More information about state campaign accounts. You must submit a nil return even if you have nothing to report about your state campaign account.

When are annual returns due?

20 October each year.

Submissions open 1 July each year.

How do I submit a return?

On VEC Disclosures. You need to set up an account before you can submit your return.

Help with VEC Disclosures

Expand the accordion below for instructions on how to submit your return. You can click the pop-out icon in the bottom right corner to open the instructions in a new window.

If you have any questions email disclosures@vec.vic.gov.au or call 131 832.

How to submit your return

Request an amendment

What information is required?

In relation to your state campaign accounts 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 amounts received other than political donations
total expenditure
outstanding debts

See explanation of requirements below for details on each of these items.

Your return must be audited and include a certificate of audit from an independent auditor. See audit requirements below.

You must provide copies of the following documents with your 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)
any financial report prescribed by the regulations.

If these documents are not available when you submit your return you must provide them as soon as possible they are ready.

Explanation of requirements

Associated entities

Term	Details
Financial year	The reporting range for the annual return is 1 July to 30 June (inclusive).
Total income	The total income refers to the total amount received by, or on behalf of, the associated entity. This includes the amounts disclosed in 'Total disclosed political donations', 'Total undisclosed political donations' and 'Total amounts received other than political donations'
Total disclosed political donations	The total amount of disclosed political donations that appear on VEC Disclosures. These disclosed political donation amounts must also be included in the 'Total income' field. When completing the annual return in VEC Disclosures this field is automatically populated and cannot be edited.
Total undisclosed political donations	The total amount of political donations received, that have not been disclosed via the VEC Disclosures, including small contributions and funds raised under the disclosable threshold. These undisclosed political donation amounts must also be included in the ‘Total income’ field. If the sum of all political donations received from a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details: the full name of the person or entity from whom the amount was received the address of the person or entity from whom the amount was received (unless the individual is a silent elector, in which case the address must not be recorded) the sum of the amount received
Number of donors for undisclosed political donations	The number of individual donors that made a political donation under the disclosable threshold for the financial year.
Total amounts received other than political donations	Total amounts received other than political donations are all amounts received by, or on behalf of, the associated entity that do not require disclosure. For example, dividends on shares, income of real estate holdings, deposits made to the recipient through a deceased estate or funding. These examples are acceptable monetary transactions that are not political donations. If the sum of all amounts received other than political donations from a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details: the full name of the person or entity from whom the amount was received the address of the person or entity from whom the amount was received (unless the individual is a silent elector, in which case the address must not be recorded) the sum of the amount received.
Total expenditure	Total expenditure is the total amount of expenses incurred by, or on behalf of, the associated entity.
Total outstanding debts	Total outstanding debts incurred by, or on behalf of, the associated entity. If the sum of all outstanding debts to a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details: the full name and address of the person or entity to whom the amount of the debt is owed (unless the individual is a silent elector, in which case the address must not be recorded) the sum of the amount that is owed whether the amount of the debt is to a financial institution or non-financial institution.

Term

Details

Financial year

The reporting range for the annual return is 1 July to 30 June (inclusive).

Total income

The total income refers to the total amount received by, or on behalf of, the associated entity.

This includes the amounts disclosed in 'Total disclosed political donations', 'Total undisclosed political donations' and 'Total amounts received other than political donations'

Total disclosed political donations

The total amount of disclosed political donations that appear on VEC Disclosures. These disclosed political donation amounts must also be included in the 'Total income' field.

When completing the annual return in VEC Disclosures this field is automatically populated and cannot be edited.

Total undisclosed political donations

The total amount of political donations received, that have not been disclosed via the VEC Disclosures, including small contributions and funds raised under the disclosable threshold. These undisclosed political donation amounts must also be included in the ‘Total income’ field.

If the sum of all political donations received from a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details:

the full name of the person or entity from whom the amount was received
the address of the person or entity from whom the amount was received (unless the individual is a silent elector, in which case the address must not be recorded)
the sum of the amount received

Number of donors for undisclosed political donations

The number of individual donors that made a political donation under the disclosable threshold for the financial year.

Total amounts received other than political donations

Total amounts received other than political donations are all amounts received by, or on behalf of, the associated entity that do not require disclosure. For example, dividends on shares, income of real estate holdings, deposits made to the recipient through a deceased estate or funding.

These examples are acceptable monetary transactions that are not political donations.

If the sum of all amounts received other than political donations from a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details:

the full name of the person or entity from whom the amount was received
the address of the person or entity from whom the amount was received (unless the individual is a silent elector, in which case the address must not be recorded)
the sum of the amount received.

Total expenditure

Total expenditure is the total amount of expenses incurred by, or on behalf of, the associated entity.

Total outstanding debts

Total outstanding debts incurred by, or on behalf of, the associated entity.

If the sum of all outstanding debts to a person or entity during a financial year is equal to or above the disclosure threshold, the annual return must include the following details:

the full name and address of the person or entity to whom the amount of the debt is owed (unless the individual is a silent elector, in which case the address must not be recorded)
the sum of the amount that is owed
whether the amount of the debt is to a financial institution or non-financial institution.

What about…

Funding amounts	Funding amounts must be reported on the annual return. These amounts are required in the 'Total income' field, as well as the 'Total amounts received other than political donations' field.
Fundraising amounts	Amounts received as profit through fundraising must be included in the Total income field. It must also be included in your 'Total disclosed political donations' field or your 'Total undisclosed political donations' field depending on whether the profit amount received from each person was under or over the disclosure threshold.
Goods and Services Tax (GST)	Where a sum includes GST, the reported amount must include the GST.
Small contributions	Small contributions must be included in the 'Total income' as well as the 'Total undisclosed political donations' fields.

Audit requirements

Your return must be audited and include a certificate of audit from an independent auditor. This certificate must state 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 certificate must state the auditor:

a) 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
b) examined the material referred to in paragraph (a) for the purpose of giving the certificate; and
c) received all information and explanations that the auditor requested in respect of any matter required to be specified in the statement; and
d) has no reason to believe that any matter stated in the statement is not correct.

We encourage you to give your auditor this audit certificate template (PDF).

Can the public see my annual return?

Yes. We are required to publish annual return summaries on VEC Disclosures by 31 December each year.

We do not publish donor addresses as they are confidential.

What happens if I don’t submit an annual return?

If you do not submit a return you may be fined.

The fine is 200 penalty units.