Friday, June 18, 2010

Need to register a company? Save a little this financial year


Danni Kirwan, Marketing Executive

On 1 July 2010 the ASIC fee for registering a Proprietary Limited Company will increase from $400 to $412. The Cleardocs fee of $137.50 will stay the same.

This is the first time ASIC has changed the registration fee since it was reduced from $800 to $400 in 2006.

According to ASIC, the fee rise is to reflect an increase in the Consumer Pricing Index (CPI). In addition to the Company Registration fee hike, other fees including those charged for changing a company name and annual reviews are also set to rise. The increase in fees is expected to net the government an additional $14 million next financial year.

You can read more information about the new fees here.

For companies registered through Cleardocs, the increased ASIC fee will be charged from 1 July.

Now that the end of this financial year is on us, remember you can use Cleardocs 24/7 to create your legal documents. We will also be extending our helpline hours for the last few days of the financial year, to help you handle the last minute rush!

Also, please keep in mind as the end of the financial year looms that company registrations cannot be back-dated. If you want a Certificate of Incorporation dated this financial year, you will need to register it this financial year. Certificates of Incorporation are dated on the day that ASIC approves the registration – not the date they are lodged (if that date happens to be different).

So if you find yourself with last minute companies to register, make sure you keep an eye on their progress. If, for example, you submit a company registration before 30 June that ASIC reject, you will need to ensure you re-submit and your registration is successful on or before 30 June.

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