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21. ASIC fee increase from 1 July 2017, however, our prices will remain “unchanged” (Posted On 30-06-2017)
ASIC increases its company lodgement fees every year and has now released their updated fees for commonly lodged documents effective from 1 July 2017. Continue Reading ...
20. Changing company type (Posted On 30-09-2016)
A company may change to a company of different type by following the procedures stated below: Continue Reading ...
19. Updating Company details Online (Posted On 12-09-2016)
ASIC has revamped the procedures required to change company details. Lodging forms with ASIC can be effective provided you have the time to look for the correct form and wait for it to take effect. Continue Reading ...
18. Types of Proprietary Company (Posted On 01-09-2016)
This section talks about the criteria used to recognise different categories of proprietary limited companies. Continue Reading ...
17. What happens if a company does not have enough officers? (Posted On 24-05-2016)
A company is required to have a minimum number of directors and secretaries. If the company does not have sufficient officers, it will be in breach of the requirements of the Corporations Act 2001.Therefore it is important that there is no time period during which a company does not have the minimum required number of officers and to ensure that new officers are appointed as quickly as possible to meet the minimum numbers. Continue Reading ...
16. How to resolve disputes that can arise over the use of similar business names? (Posted On 17-05-2016)
If businesses have a similar business name disputes can arise between the owners as this may confuse the customers or the business owners may think that they have an exclusive legal right to the use of the business name. Continue Reading ...
15. What are suggested books and records to be kept by a company? (Posted On 29-07-2015)
A Company is required to maintain certain financial records to record all the accounting and financial transactions accurately Continue Reading ...
14. How are Company’s documents executed? (Posted On 09-07-2015)
The Corporations Act 2001 and the constitution of the company specify the manner in which company documents can be executed. Continue Reading ...
13. What are financial records? (Posted On 05-05-2015)
Every organization is required to keep financial records depending upon their structures. Here, we will highlight the basic financial records that a company is required to keep. Continue Reading ...
12. What is a Common Seal? (Posted On 30-03-2015)
Common seal of the company is a stamp with the company’s name and Australian Company Number (ACN). It is like a signature of company and used to execute documents. It is also known as company seal or corporate seal. Continue Reading ...
11. What should be Company’s internal operating rules - Constitution or Replaceable rules? (Posted On 03-03-2015)
A company’s internal management may be governed by: • provisions of the Corporations Act that apply to the company - known as replaceable rules; • a Constitution; or • a combination of both Continue Reading ...
10. What is a share of the Company? (Posted On 27-01-2015)
A share is a unit of investments in the company. A company divides its capital into shares, which are offered for sale to raise capital, called as issuing shares. Thus, a share is a unit of capital, expressing the ownership relationship between the company and the shareholder. The total share capital of a company is divided into a number of shares. Continue Reading ...
9. How to form a company with already registered business name? (Posted On 12-01-2015)
A company can be registered with a name that is identical to already registered business name provided – Continue Reading ...
8. Can you backdate an incorporation of Company or incorporate a company in future date? (Posted On 08-09-2014)
Many of our clients ask us whether we can backdate incorporation of a company or incorporate a company in future date. Continue Reading ...
7. What are the roles and responsibilities of the ‘officers’ of a company? (Posted On 07-04-2014)
The ‘officers’ of a company are its directors and secretaries. As part of the process of setting up a company, its members or directors can appoint officers in accordance with either the Replaceable Rules set out in the Corporations Act or the company’s own constitution, if it elects to have one. Continue Reading ...
6. What are the differences between operating as a sole trader and as a Pty Ltd company? (Posted On 09-12-2013)
Operating a business as a Pty Ltd company has definite advantages over operating as a sole trader. Continue Reading ...
5. When and why does a company need a secretary? (Posted On 02-12-2013)
The main role of the company secretary is to keep ASIC up to date. Continue Reading ...
4. Why do I need an Australian Company Number? (Posted On 22-11-2013)
Every company that gets registered under the Corporations Act of 2001, will receive an ACN or Australian Company Number. They are issued by Australia's corporate regulator Continue Reading ...
3. What is a Pty Ltd Company? (Posted On 15-11-2013)
The letters 'PTY LTD' are an abbreviation of PROPRIETARY LIMITED. The 'proprietary' means the company is privately owned. Its shares are not listed on the Australian Stock Exchange and can't be traded by members of the public. Continue Reading ...
2. What accounting books and records a proprietary limited (Pty Ltd) company should maintain? (Posted On 15-05-2013)
Companies registered as proprietary companies (Pty Ltd) with Australian securities and Investment commission (ASIC) are required to maintain accounting records to record all the accounting and financial transactions accurately. The records must be preserved for a minimum period of seven years. Continue Reading ...
1. What is a business name and Procedure to register a Business name? (Posted On 20-03-2013)
A business name is simply a name or title under which a person or entity conducts a business. Continue Reading ...