ASIC: Pay your annual review fees in advance and save
Here’s a summary of the key points:
- Advance Payment Option: Companies can pay annual review fees 10 years in advance at a discounted rate.
- Fee Protection: Paying in advance protects the company from future fee increases.
- No Refunds: Refunds are not available if company circumstances change after paying in advance.
- Separate Recording: Advance payments are separately recorded and do not appear as a credit on the company’s account.
- Notification Requirements: Even with advance payment, the company must review the annual statement and notify changes within 28 days.
- Solvency Resolution: Company directors must pass and store a solvency resolution within two months of the review date, unless a financial report has been lodged within the last 12 months.
Here’s a breakdown of the advance payment fee amounts for 10 years:
| Type of company or scheme | Annual review fee | Advance payment for 10 years |
|---|---|---|
| A public company, except a special purpose company or a small transferring financial institution | $1,492 | $10,000 |
| A proprietary company, except a special purpose company | $321 | $2,381 |
| A special purpose company (proprietary) | $65 | $452 |
| A special purpose company (public) | $61 | $446 |
| A registered scheme | $1,492 | $10,000 |
| Corporate Collective Investment Vehicle | $1,492 | $10,000 |
