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The System Defaults screen lets you nominate the address type to be used as the default reporting address for all corporations which are shareholders. This is a global setting. You can nominate either the current business address or registered address.
This setting is to cater for CRS users who have used the corporation shareholder’s registered address as the address that has been reported to ASIC for a contact which is a corporation.
When Corporate Compliance is installed, the default setting is the Business Address, but you can change to using the Registered Address, if required.
The following Corporate Compliance documentation will be affected by the change in the default address setting for corporate shareholders:
For CRS users. When converting to Corporate Compliance, you must update the default address type for shareholder from Business to Registered.