{"id":33383,"date":"2020-02-26T15:50:18","date_gmt":"2020-02-26T07:50:18","guid":{"rendered":"https:\/\/zegal.com\/change-the-companys-financial-year-end\/"},"modified":"2024-12-27T17:27:17","modified_gmt":"2024-12-27T09:27:17","slug":"change-the-companys-financial-year-end","status":"publish","type":"page","link":"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/","title":{"rendered":"Change the Company\u2019s Financial Year End"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#What_is_a_Directors_Resolution_to_Change_the_Companys_Financial_Year_End\" >What is a Directors\u2019 Resolution to Change the Company\u2019s Financial Year End?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#Can_a_company_change_its_financial_year-end\" >Can a company change its financial year-end?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#How_to_change_the_companys_financial_year-end\" >How to change the company\u2019s financial year-end?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#Why_would_a_company_change_its_financial_year-end\" >Why would a company change its financial year-end?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#Directors_Resolution_to_Change_Financial_Year-End_FAQs\" >Directors\u2019 Resolution to Change Financial Year-End FAQs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#How_to_Change_Financial_Year_End\" >How to&nbsp;Change Financial Year End<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#What_to_include_in_a_Directors_Resolution_to_Change_Financial_Year_End\" >What to include in a&nbsp;Directors\u2019 Resolution to Change Financial Year End<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/zegal.com\/en-au\/change-the-companys-financial-year-end\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-directors-resolution-to-change-the-company-s-financial-year-end\"><span class=\"ez-toc-section\" id=\"What_is_a_Directors_Resolution_to_Change_the_Companys_Financial_Year_End\"><\/span>What is a Directors\u2019 Resolution to Change the Company\u2019s Financial Year End?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A <strong>Directors\u2019 Resolution to Change Financial Year End<\/strong> is a resolution passed by the directors of a company to change the financial year-end of a company. There are statutory restrictions on how the financial year-end can be changed. Consult your company secretary before using this resolution. After changing the financial year-end by the Directors\u2019 Resolution, remember to file the relevant form to update the relevant government department or registry within the statutory time limit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-a-company-change-its-financial-year-end\"><span class=\"ez-toc-section\" id=\"Can_a_company_change_its_financial_year-end\"><\/span>Can a company change its financial year-end?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the Company Act 1956, any company can change its financial year-end according to its needs and requirements. For instance, it can start from April 1 and ends on 31st March or start on any random date and ends on any random date. However, the new Companies Act 2013 prohibits changing the company\u2019s financial year-end for uniformity purposes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-change-the-company-s-financial-year-end\"><span class=\"ez-toc-section\" id=\"How_to_change_the_companys_financial_year-end\"><\/span>How to change the company\u2019s financial year-end?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are two options when using a directors\u2019 resolution for changing a company&#8217;s financial year-end:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>if a meeting of the board of directors is convened to change the financial year-end, use a Board Minutes to Change Financial Year; or<\/li>\n\n\n\n<li>if the board resolution will be passed by way of a written resolution, use a Board Resolution to Change Financial Year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-would-a-company-change-its-financial-year-end\"><span class=\"ez-toc-section\" id=\"Why_would_a_company_change_its_financial_year-end\"><\/span>Why would a company change its financial year-end?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>One of the main reasons companies change their financial year is deferring tax liability. When the company\u2019s profits are decreasing, they try to push back the accounting date. When the company\u2019s profits are increasing, they try to bring it forward.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Directors_Resolution_to_Change_Financial_Year-End_FAQs\"><\/span>Directors\u2019 Resolution to Change Financial Year-End FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Companies might decide to change their financial year end for a variety of reasons &#8211; for tax purposes, to align with the fiscal year of a parent company or main client, or to spread workloads evenly throughout the year, among others.<\/p>\n\n\n\n<p>There are statutory restrictions on how the financial year end can be changed.<\/p>\n\n\n\n<p>Consult your company secretary before using this&nbsp;<strong>Directors\u2019 Resolution to Change Financial Year End<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-change-financial-year-end\"><span class=\"ez-toc-section\" id=\"How_to_Change_Financial_Year_End\"><\/span>How to&nbsp;Change Financial Year End<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After changing the financial year-end by the&nbsp;<strong>Directors\u2019 Resolution to Change Financial Year End<\/strong>, remember to file the relevant form to update the relevant government department or registry within the statutory time limit.<\/p>\n\n\n\n<p>There are two options when using a&nbsp;<strong>Directors\u2019 Resolution to Change Financial Year End<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If a meeting of the board of directors is convened to change the financial year end, use a&nbsp;<strong>Board Minutes to Change Financial Year<\/strong>; or<\/li>\n\n\n\n<li>If the board resolution will be passed by way of a written resolution, use a&nbsp;<strong>Board Resolution to Change Financial Year<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-to-include-in-a-directors-resolution-to-change-financial-year-end\"><span class=\"ez-toc-section\" id=\"What_to_include_in_a_Directors_Resolution_to_Change_Financial_Year_End\"><\/span>What to include in a&nbsp;Directors\u2019 Resolution to Change Financial Year End<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Details of the company;<\/li>\n\n\n\n<li>Details of the meeting (if using Board Minutes);<\/li>\n\n\n\n<li>Date of passing the resolution; and<\/li>\n\n\n\n<li>New financial year-end date.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A Directors\u2019 Resolution to Change Financial Year End is a resolution passed by the board to change the last day of the year on which the company\u2019s annual numbers are calculated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a Directors\u2019 Resolution to Change the Company\u2019s Financial Year End? A Directors\u2019 Resolution to Change Financial Year End is a resolution passed by the directors of a company to change the financial year-end of a company. There are statutory restrictions on how the financial year-end can be changed. Consult your company secretary before [&hellip;]<\/p>\n","protected":false},"author":174,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":[13558],"meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":1,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"usecases":[13751],"class_list":["post-33383","page","type-page","status-publish","hentry","template-contracts-and-finance-matters","usecases-communicate-with-shareholders"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Resolution to Change Company\u2019s Financial Year End Template<\/title>\n<meta name=\"description\" content=\"Create a Directors&#039; Resolution to Change Financial Year End with a Zegal free trial. Need legal? 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