As a Financial Controller of an Associated Entity, you are able to submit a calendar-based periodic return.
Associated Entity Details
If applicable click the dropdown list below Associated Entity and select the relevant row.
Periodic returns are required on a biannual basis. In the Disclosure Period section, select the reporting period from the dropdown list. The return commencement and conclusion dates will automatically be filled in.
You will need to add any Payments, Debts, Capital Deposits or Receipts to your Return. Click on the buttons for each of these to fill in the form details. Note that all fields with a red asterisk are mandatory.
Once you have completed these (if required), click ‘Next’.
The Returns Summary section will show the total of all gifts and loans that you have already reported as received during the disclosure period. In addition to this you need to fill out;
- The total Under Threshold Amounts Received for reporting period: Enter the total of all gifts, loans or receipts received during this reporting period that are under the threshold amount and have not already been reported in the EDS. Values include GST.
- The total Under Threshold Amounts Outstanding for reporting period: Enter the total of all outstanding debts incurred during this reporting period that are under the threshold amount. Values include GST.
- The total Under Threshold Amounts Paid for the reporting period: Enter the total of all payments made during this reporting period that are below the gift threshold. Values include GST.
Pro-tip: If you received a gift or loan equal to or above the threshold amount, you need to report it separately before finalising the periodic return.
Unless stated otherwise, you must upload a certificate of audit signed by a qualified auditor. Click ‘Download Audit Certificate’ to download a copy of the certificate template.
When the certificate has been filled and signed by a qualified auditor, click ‘Attach Audit Certificate’ to attach the completed certificate. You can save the return as a draft while the certificate is being completed. Click ‘Save Draft’ and the return will then be accessible through the Returns>Drafts menu.
You may be able to request an Audit Waiver. If this is the case you will see a ‘Request Audit Waiver’ button at the bottom left of the screen. If you wish to request an audit waiver, you will be asked to provide a reason. Fill in the reason and click ‘Request to waive audit’.
Once the request for audit waiver is made, it will be processed by ECQ representatives. The fact of the request does not guarantee your request is approved, and if rejected, you will be obligated to attach the audit certificate.
When you have completed the form and attached your Audit Certificate (if required), click ‘Submit’, or ‘Save Draft’ to return later.
Pro-tip: If you want to provide a report from EDS to auditor, click on “Defer Audit Certificate Attachment” tick box, and “submit”.
It will show up as PACA status, and click on “Action”, “View” and “Export CSV” to produce report. Once you receive audit certificate, you can click “Action”, “Edit” and “attach the Audit Certificate” and “Amend” to finalise the lodgement.
Pro-tip: If you intend to request an Audit Waiver, create a draft return as soon as the reporting period is complete and submit the Audit Waiver Request as described above. This will provide added assurance that ECQ has time to consider your request well before your return is due.