Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:4_292a:p1
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 4 cl 292A (pt 1/2)
Character Range: 361603–364338

292A  Who has to prepare annual sustainability reports
 (1) Subject to subsection (2), an entity must prepare a sustainability report for a financial year if:
 (a) the entity must prepare a financial report for the financial year under this Chapter; and
 (b) subsection (3), (5) or (6) of this section applies to the entity for the financial year.
Note: For financial years commencing before 1 July 2027, only certain entities are required to prepare a sustainability report: see Part 10.77.
 (2) Despite subsection (1), if:
 (a) the accounting standards require an entity (the parent) to prepare financial statements in relation to a consolidated entity for the financial year; and
 (b) the parent elects to prepare a sustainability report for the consolidated entity for the financial year;
then:
 (c) the parent is the only entity in the consolidated entity that must prepare a sustainability report for the financial year; and
 (d) the sustainability report must be prepared as if the consolidated entity is a single entity.

Thresholds for sustainability reports
 (3) This subsection applies to an entity for a financial year if it satisfies at least 2 of the following paragraphs:
 (a) the consolidated revenue for the financial year of the entity and the entities it controls (if any) is the following amount or more:
 (i) the amount prescribed by regulations made for the purposes of paragraph 45A(2)(a);
 (ii) if no amount is prescribed—$50 million;
 (b) the value of the consolidated gross assets at the end of the financial year of the entity and the entities it controls (if any) is the following amount or more:
 (i) the amount prescribed by regulations made for the purposes of paragraph 45A(2)(b);
 (ii) if no amount is prescribed—$25 million;
 (c) the entity and the entities it controls (if any) have the following number of employees or more at the end of the financial year:
 (i) the number prescribed by regulations made for the purposes of paragraph 45A(2)(c);
 (ii) if no number is prescribed—100.
 (4) In counting employees for the purposes of subsection (3), take part‑time employees into account as an appropriate fraction of a full‑time equivalent.
 (5) This subsection applies to an entity for a financial year if it is:
 (a) a registered corporation under the National Greenhouse and Energy Reporting Act 2007 at the end of the financial year; or
 (b) required to make an application to be registered under subsection 12(1) of that Act in relation to the financial year.
 (6) This subsection applies to an entity for a financial year if:
 (a) the entity is a registered scheme, registrable superannuation entity or retail CCIV; and
 (b) the value of assets at the end of the financial year of the entity and