ATO Explains Which Entities Need to Lodge a General Purpose Financial Statement

The Australian Taxation Office (ATO) has issued a notice to explain which entities need to lodge a general purpose financial statement.

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Lodging a general purpose financial statement

Find out which entities need to lodge, the required format and when the statement is due.

Lodging a general purpose financial statement (GPFS) is a crucial step for various entities in Australia. Under section 3CA of the Taxation Administration Act 1953, you're required to submit a GPFS if you meet all …