Small proprietary companies not controlled by a foreign company (and are not disclosing entities) where shareholders request a financial report
You must prepare:
a financial report
prepared in compliance with accounting standards if requested by the shareholder/s under s293(3)(a)
- audited when requested by the shareholder/s under s293(3)(c) or when the company had one or more crowd-sourced funding (CSF) shareholders during the year and the amount raised from all the CSF offers it has ever made is $3 million or more
- sent to members within four months after the end of the financial year, or within the later of four months after the financial year end or two months after a request by shareholders.
The financial statements do not have to be lodged with ASIC unless the company had one or more CSF shareholders at any time during the year.