Annual returns for political parties
An annual return is a summary of money received, spent and owed by a political participant in a financial year. We use annual returns to check that political parties and other entities are complying with 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. Registered officers of a political party must complete and lodge an annual return on behalf of the party. You must do this even if you did not receive any political donations or incur any political expenditure.
An annual return is required for the whole financial year. For newly registered parties it will only cover the part of the financial year after you were registered.
You must also submit an annual return for your nominated entity, if you have one.
When are 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.
What information do I need to include?
These details are needed for all endorsed candidates, groups, and elected members 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.
You must have your party's annual return audited and include a certificate of audit from a registered company auditor.
Explanation of requirements
Audit requirements.
Your return must be audited and include a certificate from an independent auditor. This certificate must state the return has been audited according to Australian Accounting Standards as specified ins. 334(1) of the Corporations Act.
The audit certificate must state that 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.
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 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 an annual return you may be fined.
The fine is 200 penalty units.
Can I get help to complete my annual return?
Yes. Follow this checklist (Word).If you have any questions email disclosures@vec.vic.gov.au or call 131 832.