Proposed Amendments to the Corporations Act

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Discussion Paper

Key Documents

A discussion paper has been released relating to the test for payment of dividends in the Corporations Act 2001, parent entity reporting requirements and the conditions for changing the financial year of a company.

The dividends test was amended in June 2010 to replace the profits-based test with a net assets test. Stakeholders have raised concerns about various aspects of the new dividends test. The discussion paper provides options for dealing with stakeholder concerns. The other changes canvassed in the paper would allow a parent entity to prepare it own financial statements where such statements are required or considered desirable and correct a technical error in the conditions for changing the financial year of a company.

Submissions

38 submissions were received for this consultation, including 3 confidential submissions.

BDO (NSW-Vic) - pdf 171.09 KB
BDO (NSW-Vic) - docx 106.48 KB
Corrs Chambers Westgarth - docx 76.42 KB
Deloitte - pdf 50.65 KB
Deloitte - docx 233.25 KB
Ernst & Young - pdf 511.47 KB
Freehills - pdf 61.45 KB
Freehills - doc 229.5 KB
G100 - pdf 51.87 KB
G100 - docx 50.34 KB
Grant Thornton - pdf 140.34 KB
Joint Accounting Bodies - pdf 291.31 KB
Joint Accounting Bodies - docx 349.98 KB
KPMG - pdf 207.29 KB
Law Council of Australia - pdf 210.67 KB
MacDougall, Alice - pdf 22.33 KB
MacDougall, Alice - doc 217.5 KB
NAB - pdf 74.53 KB
NAB - docx 15.71 KB
Nehme, Dr Marina - docx 41.82 KB
Nehme, Dr Marina - pdf 157.32 KB
PricewaterhouseCoopers - pdf 141.19 KB
RSM Bird Cameron - pdf 151.22 KB
The Tax Institute - pdf 67.75 KB
William Buck - pdf 268.42 KB