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.