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Standard fact sheet.
Large print fact sheet.

Co-operatives financial reporting 

Financial records

Co-operatives must keep written financial records that correctly record and explain their transactions and financial position and performance and enable financial statements to be prepared and audited.

The records must be retained for seven years and may be kept in any language however an English translation must be available. The records may be kept in electronic form but a hardcopy must also be available.

Participating co-operatives must lodge annual reports with their original jurisdiction.

NSW co-operatives carrying on business in another state or territory may decide where to keep its financial records. 

If financial records are kept outside of NSW, sufficient information concerning those records must be kept in NSW. The Registrar must be advised of the location of those records.

Participating co-operatives may be required to produce specified financial information in another participating jurisdiction at the request of that Registrar and if so requested must comply with that direction.

Reporting requirements

There are different reporting requirements based on the size of a co-operative.

Small co-operatives

While small co-operatives have less financial reporting requirements than large co-operatives, there are regulations with which it must comply.

A co-operative is classified as a small co-operative for a financial year if it does not issue shares to more than 20 prospective members exceeding $2 million or securities to the public and it satisfies at least two of the following criteria:

  • consolidated revenue is less than $8 million
  • consolidated gross assets are less than $4 million
  • has fewer than 30 employees.

Go to the Small co-operatives financial reporting web page for more information.

Large co-operatives

Large co-operatives must satisfy two of the following criteria in a financial year:

  • consolidated revenue of $8 million or more
  • consolidated gross assets of $4 million or more
  • has 30 or more employees.

Co-operatives that issue securities to the public, regardless of size, will need to meet the reporting requirements of a large co-operative.

Go to the Large co-operatives financial reporting web page for more information.

Further information

For further information please contact:

Registry Services
PO Box 22
Bathurst NSW 2795
Tel: 6333 1400
Freecall: 1800 502 042