For many of you who have or have had a registered company, you are probably aware of the company statement and fee that is received from ASIC each year on the anniversary of your company’s incorporation date.
Perhaps this is a tick and flick occurrence for you, another task that just has to get done. But did you know there’s a way to reduce the cost your company’s ASIC annual review fee?
We’ll let you in on a little secret…
If you choose to pay your company’s ASIC annual review fees 10 years in advance, ASIC will offer the fees to you at a discounted rate.
For example, the current annual review fee for a standard proprietary company is $273. However, if you pay the advance amount of $2,020, your annual cost is reduced to $202, which is a saving of $71 per year.
The benefit of this is that, not only do you pay a discounted rate for your company’s annual review fee, but paying in advance also protects your company from being subjected to fee increases from ASIC for the 10-year period of the advance payment.
Although you get to take a welcome break from paying your annual review fee each year, you will still receive an annual company statement from ASIC to be reviewed and updated if necessary, and the requirement for a signed and stored solvency resolution will still apply.
Please contact our office for more information about this incentive and how you can take advantage of it.