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What is a 'Public Officer'? |
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Under Australian taxation law, every company carrying on business or deriving property income in Australia must, unless specifically exempted, at all times have a public officer.
A public officer must be appointed within 3 months of the company commencing to carry on business or first deriving income in Australia.
The public officer must be a natural person of at least 18 years if age and must also be an 'ordinary resident' in Australia.
The public officer is answerable for everything that is required to be done by the company for tax-related purposes and, if in default, is liable to the same penalties. The public officer is not, however, personally liable for payment of tax due by the company.
To find out about more requirements of the Public Officer click here.
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