In Australia, a public officer is a vital role within registered companies, acting as the primary point of contact between the company and the Australian Taxation Office (ATO).
This individual is responsible for ensuring that the company complies with its tax obligations under the Income Tax Assessment Act 1936. The appointment of a public officer is a legal requirement for all companies operating in Australia, and this person must be appointed within three months of the company commencing business or deriving income in the country.
To qualify, a public officer must be at least 18 years old and have the capacity to understand and fulfill the responsibilities that come with the role. The duties of a public officer include maintaining tax records, submitting tax returns, and being available to liaise with the ATO on matters concerning the company's tax affairs.
It's a position that carries significant responsibility, as the public officer is also liable for the same penalties as the company in case of any violations of tax laws.
You can elect a public officer as part of your Namecorp company registration application. If you choose not to do so, you must select and inform the ATO of your public officer within three months of company registration to avoid a late fee of $110.
s 252 of the Income Tax Assessment Act 1936 (Cth) sets out the obligations of a public officer. Pursuant to this legislation, a public officer must be at least 18 years of age, an Australian resident and have the capacity to understand the nature of the role they are undertaking.
Once the company has been registered it is important for the public officer to sign the consent form (emailed through as a PDF) and to keep this with the company records.