Carrigan Pty Ltd was incorporated as a proprietary company on 29 April 20X0.The following information relates to Carrigan's financial year ended 30 June 20X1:
$\begin{array}{llcc}
\text { Total gross operating revenue} &\$19500000 \
\text { Total full time employees at 30 June $ 20 \mathrm{X} 1 $ } &52\
\text {Total gross assets at 30 June $ 20 \mathrm{X} 1 $ } &\$13500000\
\end{array}$

Carrigan Pty Ltd is not a disclosing entity.When (if at all) must Carrigan Pty Ltd lodge its 20X1 financial report with the ASIC?

Question

Carrigan Pty Ltd was incorporated as a proprietary company on 29 April 20X0.The following information relates to Carrigan's financial year ended 30 June 20X1:
$\begin{array}{llcc}
  \text {  Total gross operating revenue} &\$19500000  \
 \text { Total full time employees at 30 June $ 20 \mathrm{X} 1 $  } &52\
 \text {Total gross assets at 30 June $ 20 \mathrm{X} 1 $  } &\$13500000\
\end{array}$

Carrigan Pty Ltd is not a disclosing entity.When (if at all) must Carrigan Pty Ltd lodge its 20X1 financial report with the ASIC?

Quizplus · Accepted Answer

Proprietary companies in Australia are required to lodge their financial reports with ASIC by 31 October following the end of the financial year if they meet certain criteria, such as having a certain level of revenue, assets, or number of employees. Carrigan Pty Ltd, with its reported figures, would likely meet these criteria, necessitating the lodging of its financial report by 31 October 20X1. The fact that it is not a disclosing entity does not exempt it from this requirement if it meets the size thresholds.

Carrigan Pty Ltd Was Incorporated as a Proprietary Company on 29