Substituted Accounting Period
Apply for a substituted accounting period (SAP)
Simplify your financial reporting. Apply for a substituted accounting period and consolidate your accounting periods. Benefit from our unique blend of international experience and local expertise to streamline the process for you.
3 Easy steps to apply for a substituted accounting period (SAP)
Why BD Welsh?
- Specialised knowledge
- Cross-border expertise
- Multilingual Support
Frequently Asked Questions
The financial year-end in Australia is 30 June.
Yes, companies can apply for a new accounting period at any time. However, they must ensure that all current reporting requirements are met before applying for a substituted accounting period.
Details of the Australian company, such as the name of the entity, Tax File Number (TFN), Australian Business Number (ABN), are required when applying for a SAP.
Yes, a newly incorporated company can apply for a SAP in its first year of operation. The application should be made as soon as possible after incorporation and before the year-end of the company’s first financial year.
Yes, adopting a SAP changes your company’s income year, thereby changing your tax return lodgement and payment deadlines. Once your SAP is approved, the ATO will confirm your new due dates.
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