Companies limited by guarantee
A company is a small company limited by guarantee in a particular financial year if :
- it is a company limited by guarantee for the whole of the financial year
- it is not a deductible gift recipient at any time during the financial year, and
- its revenue (or consolidated revenue if that applies) for the financial year is less than $250 000.
Small company limited by guarantee
Where directed by a member of the company or ASIC, you must prepare:
- annual financial reports
- a directors' report with specific disclosure as set out in Section 300B of the Corporations Act
- prepared in accordance with Chapter 2M
- audited or reviewed.
The company must notify members of the annual financial report.
Company limited by guarantee with annual (or consolidated) revenue of less than $1 million
You must prepare:
- annual financial reports
- a directors' report with specific disclosure as set out in Section 300B of the Corporations Act
- prepared in accordance with Chapter 2M
- audited or reviewed.
The annual financial report must be given to any member who elects to receive them.
Company limited by guarantee with annual (or consolidated) revenue of $1 million or more
You must prepare:
- annual financial reports
- a directors' report with specific disclosure as set out in Section 300B of the Corporations Act
- prepared in accordance with Chapter 2M
- audited.
The annual financial report must be given to any member who elects to receive them.
What's new
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