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InFocus March 2023 - Volume 32 Issue 2

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A new Interactive Voice Respondent (IVR) is coming

A new IVR is being deployed on 20 March 2023. The updated design will aim to help you enter the queue sooner and hear relevant messages for your current and future enquiry needs. You’ll also notice new hold music and a new voice of the IVR.

Industry funding invoices

ASIC recently issued industry funding invoices to recover its FY 2021-22 regulatory costs.

Entities must pay their levy invoice by 15 March 2023.  Find out more about invoices and payment options here. 

For more information about industry funding, visit our website.

Received a late fee? We explain why...

Late fees are like a parking fine - annoying and avoidable. We explain the steps you can take to avoid ASIC late fees.

Late fees apply when information we need is not lodged on time, or an annual review fee is paid late.

To avoid paying late fees:

  • Understand when you need to notify ASIC of changes to your company and the lodgement periods for different documents.
  • Keep your details up to date to ensure you don’t miss any correspondence from ASIC.
  • Ensure you pay your annual review fees by the due date. You can check the annual review date for a company or scheme from our Organisation and Business Names search.

Find out more about late fees. 

Why it's important to provide the right information the first time

ASIC Registry administers more than 30 legal registers and works to collect, store and make information publicly available from these registers.

The work we do ensures that the information on our registers is accurate, up to date and available in a timely manner, enabling business and consumer stakeholders to make informed decisions.

Customers are reminded to check that the information they provide is accurate upon lodgement, and unlikely to require typographical correction at a later stage.

Examples of checking the accuracy of the information may include confirming the spelling of full names (including middle names) and checking that dates and places of birth are correct.

Lodging inaccurate information can also have impacts for the company directors themselves as they attempt to open bank accounts, enter financial contracts and commence other business critical operations. Corrections made via a Form 492 Request for Correction may not be reflected on ASIC’s registers for up to five business days after lodgement.

Registered agents lodging on behalf of customers must ensure documents are accurate.

Our registered agent terms and conditions outline this requirement.

ASIC data sets available on data.gov.au

Data.gov.au is a website that allows customers to find, access and reuse data made available by government organisations.

ASIC currently has 12 datasets available for download from data.gov.au:

  • Company Register
  • Business Names Register
  • Financial Advisers Register
  • SMSF Auditor Register
  • Credit Licensee Register
  • Credit Representative Register
  • AFS Licensee Register
  • AFS Representative Register
  • Auditors Register
  • Registered Liquidators and Official Liquidators Register
  • Banned and Disqualified Persons Register
  • Banned and Disqualified Organisations Register

View and download our datasets now.

What to do if you've been scammed

If you’ve been scammed, find out what action to take, and who to contact for information or assistance:

  • MoneySmart – Steps on what to do if you’ve been scammed, how to report scams and how to get support.
  • ID Care – Helps individuals affected by identity theft and cybercrime. 
  • ACCC’s Scamwatch – Information for consumers and small business about how to recognise, avoid and report scams. 
  • Small business scams - Find out more about the common scams targeting small businesses and how to protect yourself. 

Webinars to help your business thrive

There are many online services and digital systems that can help you excel in your business activities and easily manage your tax and super commitments. It’s good to know what systems are available for each area of your business operations and how they can benefit you.

The Australian Taxation Office (ATO) is offering two webinars to help your business get up to speed:

  • Digital options for your business: Join this 60-minute session to learn how your business can benefit from digital systems when it comes to activities such as marketing, sales, accounting and reporting.
  • Connecting online with the ATO - Businesses: During this 60-minute session, those in a company, partnership or trust can learn how to register, lodge and pay online for GST, pay as you go withholding, pay as you go instalments and more using Online services for business.

Find out more about the ATO’s small business webinars and workshops, and remember to register early to secure your spot.

Last updated: 22/02/2024 12:59