CANBERRA, ACT, Oct. 19 -- The Treasurer of Australia issued the following media release:
The Albanese Government is delivering reforms to reduce regulatory burden on business by making company reporting better targeted and more effective.
These changes will save business over $210million in compliance costs each year and are part of the broadest productivity reform agenda in decades.
Today we are releasing draft regulations for consultation to update the reporting thresholds for proprietary companies.
These thresholds have not been updated since 2019. These increases to the thresholds are sensible regulatory updates to corporate reporting obligations while allowing for business growth.
This is about cutting red tape for business, better targeting company reporting obligations and boosting productivity.
This reform was announced in the 2026-27 Budget, as part of the Government's broader agenda to reduce unnecessary regulatory burdens, improve regulation, boost productivity and support small and medium sized businesses.
The updated regulations will reduce the number of companies that must prepare yearly financial, directors' and sustainability reports while maintaining accountability and transparency requirements for larger firms.
Under the changes, the thresholds for a company to undertake these reporting obligations will be raised to $100million in consolidated revenue (from $50million), and $50million in consolidated gross assets (from $25million).
Companies below these new thresholds will not have to prepare the reports required of larger companies.
They will apply to financial years commencing on or after 1July 2027.
The exposure draft materials are available on the Treasury consult hub.
Consultation is open until 2November 2026.
Disclaimer: Curated by HT Syndication.
