As regular as clockwork, a new financial year brings with it increases to lodgement and penalty fees by the ASIC. The main increase affecting Charman Partners clients is payment of the annual review fee which is now $249. To ensure you avoid late lodgement penalty fees it is important to pay the fee prior to the due date.
If the company no longer operates it could be worthwhile discussing the possibility of deregistration with us. As long as the application for deregistration is lodged prior to the due date of the ASIC invoice there is no need to pay the annual review fee. It is important to note however that all outstanding fees relating to prior years must be paid before the ASIC will approve the application for deregistration.
The annual review is also a good time to ensure we have all your current details and if necessary we can update the ASIC database.
With the ASIC taking over responsibility for the administration of business names, the process of renewal has been simplified and all correspondence in relation to business names is now emailed. Provided Charman Partners has the ASIC key provided to the business name holder at the time of registration (if we did not apply on your behalf) it is a very simple matter to make any changes to the details and renew the Business Name.
Contributed by: Gayle Hutchings