There are two types of incorporated associations:
- a prescribed association - an association that had gross receipts in the previous financial year that exceeded $500,000
- all other associations - an association with gross receipts in the previous financial year that do not exceed $500,000.
Gross receipts
Gross receipts means the total amount of receipts of the association (including any grant or subsidy received by the state of Australian Government).
Gross receipts do not include:
- membership fees or subscriptions
- a bequest
- the sale of the association's assets that were not originally purchased by the association for the purpose of resale.
