The Accounting and Corporate Regulatory Authority (ACRA) has formally announced an extension to its waiver of late filing penalties, now effective until 15 March 2025. This relief measure applies to entities with statutory filings originally due between 9 December 2024 and 28 February 2025.
Key Details of the Waiver:
- Covered Filings: The penalty waiver encompasses all statutory submissions falling within the specified due date window, including but not limited to Annual Returns and other mandatory filings.
- Deadline: Affected entities now have until 15 March 2025 to complete these filings without incurring any late penalties.
- Transaction Date Assurance: ACRA has specifically addressed concerns regarding share-related transactions and other general lodgements submitted during this period. The authority confirms that the transaction date recorded in its BizFile+ system will reflect the actual date of the transaction, not the date of delayed lodgement. This ensures the accuracy of corporate records despite any filing extensions utilized.
This extension provides critical administrative flexibility for businesses and corporate service providers managing year-end and regulatory compliance obligations. It acknowledges potential operational challenges during the period and offers a clear, penalty-free window for completing submissions.
Source: ACRA, 21 January 2025.