The Department of Treasury proposes changes to large proprietary company reporting

Department of Treasury Update

The Department of Treasury has issued a consultation paper which proposes doubling the thresholds for proprietary companies to assess whether they are large and therefore would have reporting requirements under the Corporations Act.

The proposed changes from 1 July 2019 would be:

  • increasing the annual consolidated revenue threshold to $50 million or more;
  • increasing the value of gross assets to $25 million or more; and
  • increasing the maximum employee size to 100 employees or more.

The consultation paper is available for comment until 14 December 2018.

For further information, please contact your Bentleys Advisor.

 

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