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Large Proprietary Company

A proprietary company is a large proprietary company in a particular financial year if it satisfies at least 2 of the following tests:

  • the consolidated gross operating revenue for the financial year of the company and the entities it controls (if any) is $25 million or more; and/or
  • the value of the consolidated gross assets at the end of the financial year of the company and the entities it controls (if any) is $12.5 million or more; and/or
  • the company and the entities it controls (if any) have 50 or more employees at the end of the financial year.

Large proprietary companies must prepare annual financial reports and a directors' report. Further, the financial report must be audited and provided to the company's shareholders. Large proprietary companies must also lodge their annual financial reports with ASIC unless exempted by ASIC from doing so.

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