Document ID: chunk:federal_register_of_legislation:F2021L01547:clause:2_4
Version: federal_register_of_legislation:F2021L01547
Segment Type: clause
Provision Reference: sch 2 cl 4
Character Range: 7786–9526

4  At the end of the instrument
Add:

Part 8‑1—Core concepts

Division 205—Core concepts

205.1  Small and medium registered entities

Small registered entities
 (1) For the purposes of subsection 205‑25(1) of the Act, the amount of $500,000 is prescribed.

Medium registered entities
 (2) For the purposes of paragraph 205‑25(2)(b) of the Act, the amount of $3,000,000 is prescribed.

Part 9—Application, saving and transitional provisions

Division 305—Application, saving and transitional provisions

305.5  Application provisions relating to the Australian Charities and Not‑for‑profits Commission Amendment (2021 Measures No. 3) Regulations 2021
 (1) The amendments of section 60.30 made by Schedule 2 to the Australian Charities and Not‑for‑profits Commission Amendment (2021 Measures No. 3) Regulations 2021 apply in relation to financial reports required to be given for:
 (a) to the extent that accounting standard AASB 124, Related Party Disclosures, or accounting standard AASB 1060, General Purpose Financial Statements – Simplified Disclosures for For‑Profit and Not‑for‑Profit Tier 2 Entities, relates to the disclosure of key management personnel compensation—the following:
 (i) the 2021‑22 financial year;
 (ii) each later financial year; or
 (b) otherwise—the following:
 (i) the 2022‑23 financial year;
 (ii) each later financial year.
 (2) Division 205, as added by Schedule 2 to the Australian Charities and Not‑for‑profits Commission Amendment (2021 Measures No. 3) Regulations 2021, applies in relation to working out whether a registered entity is a small registered entity, a medium registered entity or a large registered entity for the following:
 (a) the 2021‑22 financial year;
 (b) each later financial year.