Australia

Proprietary Company Reporting Obligations

 

Effective for years beginning on or after 1 July 2019, the financial reporting thresholds for determining proprietary companies as ‘large’ have doubled from the previous tests.

The revised thresholds mean that for the purpose of the Australian Securities and Investments Commission (ASIC) reporting requirements, entities are considered ‘large’ if they meet two of the three thresholds for a financial year:

  • $50m or more in consolidated revenue;
  • $25 million or more in consolidated gross assets or;
  • 100 or more employees.

Click below to find guidance on the reporting obligations:

Previously, proprietary companies were considered to be ‘large’, for the purposes of ASIC reporting requirements, if they meet at least any two of the following three thresholds for a given financial year:

  • $25 million or more in consolidated revenue;
  • $12.5 million or more in consolidated gross assets; or
  • 50 or more employees.

< Back

Proprietary Company Reporting Specialists

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Be Informed

Be Informed is William Buck's regular newsletter, filled with up to date news and relevant advice for individuals and businesses.

Get in touch!