• Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 21/12/2012

Reporting Updates

Reporting Updates
Reporting Updates (formerly known as Flash Reports) outline changes occurring within the Australian financial reporting environment.

12RU-012 Treasury proposes dividend test and other amendments 

This Reporting Update summarises the proposed amendments to the Corporations Act in relation to dividends and small companies limited by guarantee.

Key insights


  • Limited scope changes are proposed to the dividend test.
  • Interaction of dividend test with capital return provisions not affected.
  • Clarification that dividend test is only applied once, post-transition.
  • Current requirements will apply to dividends recognised before amendments commence.
  • Small companies limited by guarantee will no longer need to appoint an auditor.
  • Proposals are open for comment until 15 March 2013.
  • For remuneration proposals, refer Reporting Update 12RU-011.

Financial Reporting & Accounting Standards

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