InFocus June 2018 - Volume 27 Issue 5

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Contents

Fee indexation – new fees from 1 July 2018

From 1 July 2018, some ASIC fees will increase based on an increase in the Consumer Price Index (CPI).

For a list of fees that will be increased on 1 July 2018, visit Fees for commonly lodged documents.

For more information about fee indexation, visit our website.

Registered agents can now lodge financial reports for 'third party' customers

Registered agents can now lodge a Copy of financial statements and reports (Form 388) online for companies that they are not formally linked with as a registered agent.

By using a company's ASIC corporate key, registered agents can submit a Form 388 without needing to lodge a Notification by a company to nominate or cease a registered agent or contact address (Form 362).

This will make it easier for registered agents to help their 'once-off' or unlinked customers to lodge information quickly by going online.

For more information about registered agents, visit our website.

Watch our new video explaining ASIC Industry Funding

The Government has introduced new laws that change the way ASIC is funded. Under the new arrangements, regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year.

Watch the video to learn more about Industry Funding and your obligations:

For more information about Industry Funding and to subscribe to the newsletter for updates, visit http://www.asic.gov.au/industry-funding

More company invoices available online from July 2018

From July 2018, company officeholders and registered agents will be able to get more company invoices online. Companies and registered agents will receive an invoice when they have an outstanding balance on their account.

Moving these invoices online from paper will be positive for the environment, save our customers’ time and money, and allow businesses to work online.

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

If you haven’t logged into your account for the last two days, we'll also send you an email reminder when an invoice is available. Our large volume lodgers won’t receive any unnecessary reminders.

This is similar to the reminder you get when your company's annual statement can be downloaded.

We encourage you to register for online access now, so you can receive your invoices as soon as they're available.

Modernisation of Business Registers

The Government is modernising business registers to support businesses in an evolving digital economy.

The Government has decided that the modernised registers will be administered by the Australian Business Registrar within the Australian Taxation Office (ATO). Over the next year, a detailed business case and options for streamlining registry functions and upgrading technology systems will be developed for consideration by Government in 2019.

The Government will continue to work with the community to further develop future options for modernising business registers, including technology, governance, user experience, data accessibility, and legislation.

This community engagement will also include testing implementation options for a Director Identification Number (DIN). The DIN will enhance the integrity of company formation and acquisitions by allowing regulators to confirm the identity of company directors.

For more information about the announcement, visit Treasury’s website.

Company officeholders – save time by updating your addresses online

Company officeholders, did you know you can update all of your company addresses online? As part of your officeholder obligations, you need to let us know if there's any changes to your:

  • Registered office address
  • Contact address
  • Principal place of business, and
  • Officeholders' residential address/members' addresses

Our handy video talks more about each address and what you need to do

Links we like

Fair Work Ombudsman – Small Business Showcase
The Fair Work Ombudsman (FWO) has launched a new virtual showcase for small business through its website. The showcase has tailored resources, advice and information to help small business meet their workplace obligations, all in the one place. For more information, visit the FWO Small Business Showcase.

Barossa BizLink Small Business Expo – 21 June 2018
Get the latest information from local, state and federal government organisations that provide services for small business. For more information, visit the South Australia Small Business Commissioner website.

Last updated: 08/06/2018 02:39