InFocus July 2018 - Volume 27 Issue 6

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Contents

Fee indexation - new fees now apply

As of 1 July 2018, some ASIC fees have increased based on an increase in the Consumer Price Index (CPI).

For a list of our current fees, visit Fees for commonly lodged documents.

For more information about fee indexation, visit our website.

Company register update - March 2018 to June 2018

Here’s a brief update on our company register between 1 March 2018 to 30 June 2018:

  • There were 90,101 company registrations and 41,170 company deregistrations in Australia.
  • At the end of June, the total number of companies on the register was over 2.6 million, compared with over 2.5 million at the same time last year.
  • There were less registrations in the past four months when compared with the same period last year of 96,423.

The table below details how many companies were registered in each state between March 2018 and June 2018:

State

Number of companies registered

New South Wales

 31,851

Victoria

 27,934

Australian Capital Territory

 1,624

Queensland

 16,270

South Australia

 4,143

Western Australia

 7,145

Northern Territory

 306

Tasmania

 828

Industry Funding is coming!

The Government has introduced new laws that change the way ASIC is funded. Under the new arrangement, some entities will receive an invoice for the regulatory services we delivered in the previous financial year.

If you’re affected by this change, you may have already received a letter with more information about Industry Funding. You should receive another letter in July with more information about your obligations and what you need to do.

Relevant organisations will now be required to submit their ‘business activity metrics’ every year; these include things like annual turnover and number of staff employed. ASIC will use this information to calculate the levy for each business subsector.

For more information about Industry Funding and how it may affect you, visit our website.

IP Australia - Build your business from the brand up with Trade Mark Assist

IP Australia have developed a new tool, Trade Mark Assist, to help guide business owners when applying for a trade mark and protect their brand.

Trade Mark Assist lets users search their proposed trade mark, identify what classes of goods or services they wish to protect, and identify any issues before they file an application.

A trade mark is a way of identifying a unique product or service. It’s not limited to just ‘a logo’; it can be a word, phrase, shape or distinctive design. A trade mark gives you the exclusive rights to use, license, and sell the mark.

For more information about applying for trademarks, visit IP Australia’s website.

Video - Small business webinar with ASIC and other government regulators

On 7 June, a number of regulators held a webinar to discuss how government can help small business over the coming year. Regulators included ASIC, ATO, ACCC, FWO and ASBFEO

Elysse Morgan hosted the webinar, covering a wide range of topics like:

  • news and upcoming changes that may affect small business owners
  • what we are doing to inform and protect small business
  • initiatives and resources that are available for small businesses

Read the transcript

From 14 July, you'll be able to get your company invoices online

From 14 July 2018, company officeholders and registered agents will be able to get some of their company invoices online.

Company officeholders will be able to view their invoices through the online portal, while registered agents can either use the online portal or their EDGE software.

If a user hasn’t logged into their account in the last two days, we'll also send an email reminder when an invoice is available. This is so our large volume lodgers don’t receive any unnecessary reminders.

Moving to electronic invoices helps us align with the Government’s strategy to deliver faster and easier to use digital services.

For more information about invoices, visit our website.

Event - Meet the Regulators - Melbourne

ASIC and other government regulators are holding a free seminar on 14 August 2018 to provide advice on how to manage and grow your business.

Attendees will include:

  • Australian Securities and Investments Commission (ASIC)
  • Australian Competition and Consumer Commission (ACCC)
  • Australian Taxation Office (ATO)
  • Fair Work Ombudsman (FWO)
  • Victorian Small Business Commission (VSBC), and
  • Environment Protection Authority Victoria (EPA)

Register now

Event - Vodafone National Small Business Summit - Sydney

The Council of Small Business Organisation Australia (COSBOA) is hosting the 16th Small Business Summit, to be held in Sydney on 30-31 August 2018. Representatives from the ATO, ACCC, ASIC and Fair Work Ombudsman will be attending, as well as Government ministers.

Registrations are now open. For more information, visit the Small Business Summit website.

Last updated: 04/07/2018 11:50