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New proprietary company thresholds

Posted by Stephanie Kemp on 8 April 2019

The long awaited regulation changing the cut off point between small and large proprietary companies has just been issued and is operative from 1 July 2019. 

For a proprietary company to be considered small, it together with the entities it controls must now satisfy two of the following three tests: less than $50m consolidated revenue, less than $25m consolidated gross assets and fewer than 100 employees.

Author:Stephanie Kemp
Tags:Corporations ActFinancial ReportingCompanyReporting

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