Should a company apply for individual ASIC relief to synchronise its financial year with its foreign parents financial year?
ASIC will only consider individual relief for companies which do not meet the conditions for relief under ASIC Class Order 98/0096. Under that class order relief is available to certain companies where their parent is required by the law of their place of origin to cause synchronisation. Companies should make suitable inquiries of their foreign parents and their advisers as to the requirements of the law in the parent’s place of origin. See ASIC Regulatory Guide 58 for more information.
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- Should a company apply for individual ASIC relief to synchronise its financial year with its foreign parents financial year?
