ASIC: Focus areas for company reporting
ASIC is asking directors & preparers of annual and half-year reports and auditors to assess whether companies’ 2022 annual and half-year financial reports are providing useful and meaningful information for investors and other users alike. ASIC details the main areas of focus for this company reporting period. ASIC Commissioner Sean Hughes said, ‘Many companies are […]
ATO – lower company tax rate
From the 2021–22 income year, companies that are base rate entities must apply the 25% company tax rate. The rate was previously 27.5% from the 2017–18 to 2019–20 income years and 26% in the 2020–21 income year. For your company to be a ‘base rate entity’, it needs to meet the following eligibility criteria: Your […]