Tuesday, October 6, 2009

You’ve Registered your company … now what?

Danni Kirwan, Marketing Executive

Cleardocs help you quickly and easily register your company online — but there are a few more things you’ll need to do to get your company up and running and to go on looking after it. Here are some tips:

Notify the ATO of the company’s Public Officer

If you register your company with Cleardocs, then we provide you with an addressed letter to the ATO notifying it of your company’s public officer. You need to sign this letter and send it to the ATO so that it knows who to contact if it has any queries about your company.

You need to make sure you notify the ATO of your company’s public officer within three months after the company is registered. If you decide to change the public officer of your company in the future, then you need to notify the ATO of the change within 28 days.

Wait for your corporate key

ASIC issues you your corporate key after your company is registered. It will be posted to the registered office of your company. Once you have your corporate key, which is an 8 digit number, you can register to lodge documents to ASIC, or view statements from ASIC, online.

If you lose or forget your corporate key, then you can request a new one from ASIC here.

Register for an ABN and TFN

You will need to get an Australian Business Number (ABN) and a Tax File Number (TFN) for your new company.

Registering for an ABN and TFN yourself is free. You can use the same form to apply for both online at the Australian Business Register, here.

If you complete the application online, then you should generally be notified of your ABN number immediately. However, if the ATO needs to verify any information in your application the issuing of your ABN might be delayed.

You will be notified of your companies TFN by mail, and that can take up to 28 days.

Open a bank account

You’ll probably need to open a separate bank account in your company’s name. When you go to the bank to open your account, the bank will most likely ask to see your company’s Certificate of Registration (from ASIC) and your other company documents including your constitution and your directors’ signed consent forms.

What if you haven’t got any documents … ? If you registered your company directly through ASIC and don’t have any company documents all’s well – Cleardocs has a package created specifically for this purpose. Our Registration Documents Only package is $137.50 and includes all of the documents for your existing company as though you had just registered it.

Keeping your company’s records up to date, changing your company details

Over time, details of your company may change – like the address of your registered office, or the directors of the company. It’s important that you notify ASIC of any changes to your company. You can do so by completing a form and lodging it with ASIC. If you have registered for online access, then you can notify ASIC of your company changes online. For more information about notifying ASIC of changes to your company, see here.

1 comment:

  1. Excelent post, I do support what you have written here. Actually in order to Start a business in Australia you have to think for an

    abn number and a lot of factors before the business is set up and

    running. You also need to consider abn registration. This is an acronym foraustralian business number. For those of you who are just

    setting up a business in Australian, An abn is a unique number which is issued by the Australian Business Register (ABR). Without it,

    Australian authorities can’t trace people who are conducting businesses in the country. In addition to this, having an abn

    registration helps to identify your business through instances such as business transactions, getting bank loans, government tenders,

    the filling of tax forms and other related business matters.I believe that when you use a third party for your abn registration to get abn number, you will get your own abn

    in 24 hours too just like me.