Dormant Australian entity accounting & tax obligations in 2024

Since 2003, Healy Consultants Group assists multi-national Clients’ timely accurately and completely discharge their annual Australian legal, accounting and audit and tax obligations. Our in-house Accounting and Tax Department prepared this web page to help you understand how we will help your dormant inactive Australian entity:

No. Tax resident company – dormant annual accounting & audit & tax obligations US$
1. Preparation of abridged dormant financial statements (a 15-page annual report) including:

  • Compliance with Australian Accounting Standards Board; and
  • Crafting accurate and complete financial statement disclosures, to properly explain to the ATO the absence of annual transactions and zero corporate tax;
720
2. For our Client’s tax-resident entity and where possible, our in-house Accounting and Tax Department will help secure a legal exemption from:

Furthermore, our Staff will help our multi-national Clients' evaluate if i) proper record-keeping standards are met and ii) if the company directors or shareholders have Australian personal income tax obligations and iii) there is withholding tax reporting requirements and iv) employer registration obligations;

620
3. Completing your Australian dormant entity annual corporate tax obligations including:

  • Preparing an accurate and complete i) corporation tax return and ii) other supporting tax documents and iii) tailored cover letter to the the Government tax authority, explaining why there are neither annual net profits nor losses;
  • Negotiating written inquiries and phone-calls from the Tax Authorities (post tax return submission), justifying why the company has zero tax payable;
540
Estimate of total annual accounting & tax fees for an Australia dormant entity 1,880

Conclusion

These professional services and fees represent the average requirements of our multi-national Clients’. To agree a more tailored fee quotation for your specific Australian entity, please communicate with our in-house Accounting and Tax Department Staff; contact details follow:

Contact us

For additional information on our incorporation services, please contact our in-house country expert, Ms. Psalm Santiago, directly:
Consultant at HC - Psalm