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Australian Electoral Commission
An associated entity should list any other names under which it conducts business.
Section 287(6) of the Act provides that a body corporate and any other body corporate that is related to the first-mentioned body corporate shall be deemed to be the same person. It further states that whether a body corporate is related to another body corporate shall be determined in the same manner as the question whether a corporation is related to another corporation under the Corporations Act 2001. The parent company of the group, therefore, should lodge under its name a return consolidated across the entire group and list in this part of the return the names of all related bodies corporate.
Where an associated entity is a union, the associated entity should list the name and address of any subsidiaries or branches on behalf of whom the return is being lodged.
Section 314AEA(1)(a) of the Act requires that the total amount received by, or on behalf of, the associated entity during the financial year must be disclosed.
To complete this part of the return, the associated entity must disclose all transactions that result in amounts, both above and below the disclosure threshold, being received from external parties.
Amounts received include, but are not limited to the following:
When determining what transactions need to be included in Part 2a of the return the following principles should be observed:
Examples of receipts that are required to be included in the calculation of 'total receipts' at Part 2a of the return:
Section 314AEA of the Act requires the disclosure of amounts received, not of income or profit. The return, therefore, must be completed on a gross basis inclusive of GST and merchant fees. Transactions are to be reported separately, not netted off against each other.
For example,
Transactions that are not to be reported in the return include:
Material presented on an 'advertorial' basis (that is, a combination of paid advertising and interviews) should be disclosed consistent with the promotional intention of the activity.
This is the amount calculated to be the value of gifts-in-kind which would have been included in the 'total receipts' amount disclosed at Part 2a.
Gifts-in-kind may be goods or services received for which no payment (in cash or in kind) or inadequate consideration is made. Inadequate consideration is where the benefits obtained are clearly of a lesser value than the payment made. Inadequate consideration includes discounts provided that are over and above those that would be offered under normal commercial arrangements.
These gifts are to be disclosed for an amount that reflects the fair value. That is, the normal commercial or sale value of the item or service as evidenced by arms-length transaction or comparative quotations or expert assessment.
Examples of gifts-in-kind include but are not limited to:
Section 314AEA(5) and Section 314AC(1) of the Act requires that if the sum of all amounts received by, or on behalf of, the associated entity from a person or organisation during a financial year is more than the disclosure threshold details of that sum must be disclosed.
Section 314AEA(5) and Section 314AC(2) of the Act provides that when calculating the sum, individual amounts received from the same source, that are less than the disclosure threshold, need not be counted.
As a matter of best practice the AEC recommends that multiple receipts of less than the disclosure threshold received on the same day from the same source should be considered to be a single receipt. Where the sum of those multiple receipts is more than the disclosure threshold, details of the sum should be disclosed.
The details to be disclosed are:
The following requirements must be observed when disclosing the details of sums received:
Section 314AC(3)(ba) of the Act requires that where the sum received was the result of a loan the following disclosure must be made:
It is important to note that when consolidating amounts received from a single source, section 287(6) of the Act deems related bodies corporate to be the same entity.
Examples of amounts received that are required to be disclosed at Part 3 of the return:
An associated entity may provide additional clarifying information in situations where disclosure does not provide a clear picture of the underlying transactions. For example, associated entities may wish to separately identify receipts such as membership fees, subscriptions or loan funds or where the receipt of a gift was subsequently returned.
Section 314AEA(1)(b) of the Act requires that the total amount paid by, or on behalf of, the associated entity during the financial year must be disclosed.
To complete this part of the return, the associated entity must disclose all transactions that result in amounts, both above and below the disclosure threshold, being paid to external entities.
Amounts paid include, but are not limited to the following:
Examples of amounts paid that are required to be included in the calculation of 'total payments' at Part 4 of the return:
Section 314AEA(1)(c) of the Act requires that the total outstanding amount, as at the end of the financial year, of all debts incurred by, or on behalf of, the associated entity must be disclosed.
To complete this part of the return, the associated entity must disclose all debts that are outstanding as at 30 June 2016.
Debts include, but are not limited to the following:
Examples of debts outstanding as at 30 June 2016 that are required to be included in the calculation of 'total debts' at Part 5 of the return:
Section 314AEA(5) and Section 314AE(1) of the Act requires that if the sum of all outstanding debts incurred by, or on behalf of, the associated entity to a person or organisation during a financial year is more than the disclosure threshold details of that sum must be disclosed.
Unlike when completing 'amounts received' at Part 3 of the return, all outstanding debts owed to an individual or organisation, including amounts that are individually less than the disclosure threshold, must be considered in calculating whether the total debt to that person or organisation exceeds the disclosure threshold.
The details to be disclosed are:
In the case of a debt to an unincorporated association (other than a registered industrial organisation), the name and address of the association, along with the name and address of each member of the executive committee of the association must be disclosed.
In the case of a debt to a trust or foundation, the name and description of the trust or foundation, along with the names and addresses of the trustees must be disclosed.
In any other case, the name and address of the person or organisation that the debt is owed must be disclosed.
Examples of debts outstanding that are required to be disclosed at Part 6 of the return:
Section 314AEA(3) of the Act requires that if any amounts paid by, or on behalf of, the associated entity during the financial year was paid to or for the benefit of one or more political parties and was paid out of funds generated from capital of the associated entity, details of each person who contributed to that capital must be disclosed.
Section 314AEA(3)(c) and (d) of the Act requires the name and address of the person and the total amount of the person's contribution to that capital, up to the end of the financial year to be disclosed.
Section 314AEA(4) provides that where contributions have been disclosed in a previous return sections 314AEA(3)(c) and (d) do not apply.
Associated entities may accumulate capital through various means, often through the receipt of deposits of funds.
Where the capital of an associated entity:
the associated entity must disclose deposits of capital received since 16 June 1995, or since the last disclosure of capital in a disclosure return (whichever is later).
The AEC acknowledges the Traditional Owners of country throughout Australia and recognises their continuing connection to land, waters, culture and community. We pay our respects to Elders past, present and emerging.