Each year, ASIC send your company an annual statement shortly after the annual review date (which in most cases is the date you registered the company).Your annual statement will contain a statement of your company’s current details, an invoice for you company annual review fee, and your company’s corporate key
To keep your company registered, you must complete the following steps.
To keep your company registered, you must pay the total amount on the invoice by the due date. Your invoice will have a number of different payment options, including credit card and BPAY.If you have paid your annual review fees in advance, the amount shown on the invoice will be ‘Nil’.Depending on the company type, the annual review fee will be:
The annual statement pack ASIC send will include an invoice that shows how much you owe.Late fees apply if you don’t pay your annual review fee on time, being:
Check the details on your annual statement carefully. If any details are incorrect, you can change your company details online, by lodging a Change to company details (Form 484). This includes changes to your addresses, share structure, officeholders and members. We can take the hassle out of this process for you by lodging changes on your company’s behalf & issuing resulting paperwork, including Minutes, if needed.You will need your corporate key to make changes online. You can find your corporate key on your most recent annual statement. You must lodge changes with ASIC within 28 days of the annual statement issue date, or a further late fee will apply.
While you only receive one annual statement each year, changes to your company details must be lodged as they occur, to avoid a late lodgement fee.
Company directors must pass and store a solvency resolution within two months of the annual review date, unless you have lodged a financial report with ASIC in the past 12 months.A solvency resolution is made by the directors of a company that, in their opinion, the company can or cannot pay back its debts when they are due.The directors must have a reasonable basis for their opinion and the resolution must be passed by a majority.Your solvency resolution may be a:
Positive solvency resolution – passed when directors believe that the company will be able to pay its debts when they are due.
Negative solvency resolution – passed when directors believe that the company will not be able to pay its debts when they are due.Related Tag: Register a Company