Canva Group hit with $792k penalty for late lodgment of financial reports

ASIC has issued infringement notices totalling $792,000 to four companies within the Australian Canva Group for allegedly failing to lodge their financial reports for the financial year ending 31 December 2024 by the required date.

In a public statement, the corporate regulator said Canva Pty Ltd, Canva Operations Pty Limited, Canva Trading Pty Ltd, and Fusion Books Pty Ltd each paid an infringement notice of $198,000 for not lodging their financial reports by the 30 April 2025 due date. Canva Pty Ltd lodged its FY24 consolidated report covering the four companies on 27 March 2026.

ASIC noted that payment of any infringement notice is not an admission of guilt or liability, and the companies are not regarded as having been convicted of the alleged offence.

In the infringement notice, ASIC stated that it believed that for the financial year 1 January 2024 to 31 December 2024, Canva Pty Ltd met the definition of a large proprietary company, which are required to lodge annual reports within four months from the financial year end.

ASIC explained that a proprietary company can be classified as large it it meets at least two of three criteria:

• The consolidated revenue of the company and any entities it controls is $50 million or more
• The consolidated gross assets of the company and any entities it controls is $25 million or more, and
• The company and any entities it controls have 100 or more employees.

"In addition to large proprietary companies, other entities that are required to prepare and lodge financial reports include public companies, registered managed investment schemes, registrable superannuation entities, and small proprietary companies that are controlled by a foreign company," it said.

ASIC noted that Canva Group has undergone a corporate restructure since 31 December 2024. For the financial year ending 31 December 2025, Canva Group (Australia) reported through Canva Australia Holdings Pty Ltd. ASIC confirmed that Canva Australia Holdings Pty Ltd had already lodged its FY25 reports on 30 April 2026.

ASIC's broader compliance action on non-compliance with financial reporting

Financial reporting misconduct, including failure to lodge financial reports, continues to be one of ASIC's enforcement priorities.

ASIC has issued, and received payment for, 21 infringement notices worth more than $4 million for alleged FY24 financial reporting breaches.

This is in addition to court-imposed fines for failing to lodge financial reports and related governance obligations, including more than $1.1 million in fines against three public companies in one day at the Downing Centre Local Court.

ASIC said it remains focused on driving improved compliance by companies and other entities with financial reporting obligations through an ongoing surveillance program and enforcement action.

ASIC commissioner Kate O’Rourke said, ‘ASIC is undertaking targeted, data-driven surveillance to identify non‑lodgment and persistent late lodgement of financial reports.

"Companies and other entities with reporting obligations must ensure financial reports are lodged within the required timeframes. Both non-lodgment and late lodgement prevents creditors and other users of the reports from making timely and informed decisions when dealing with these companies and is a failure of their legal obligations," said O'Rourke.

"In line with our current enforcement priority, ASIC has a number of open investigations into alleged non-lodgment and late lodgement of financial reports, and enforcement action will continue."