90Tier one, tier two and tier three associations

90 Tier one, tier two and tier three associations (1) For the purposes of the requirements under this Part relating to the financial statements for a financial year, an incorporated association falls within one of three tiers as specified in subsections (2), (3) and (4). (2) A tier one association is an incorporated association— (a) that has a total revenue of less than the prescribed amount or, if no amount is prescribed, less than $250 000; or (b) that the Registrar has declared under section 91(1)(a) to be a tier one association. (3) A tier two association is an incorporated association— (a) to which neither subsection (2) or (4) applies; or (b) that the Registrar has declared under section 91(1)(b) to be a tier two association. (4) A tier three association is an incorporated association that has a total revenue of more than the prescribed amount or, if no amount is prescribed, more than $1 000 000. (5) In this section, the ***total revenue*** of an incorporated association means the total income of the association during the last financial year of the association from all the activities of the association. (6) For the purposes of subsection (5), the total income of an incorporated association is the income calculated before any expenses, including the cost to the association of goods sold by it, are deducted.