ASIC compliance made easy

Run a company? You’ll know all about ASIC compliance. If not, read on. Each year, on the anniversary of your company’s registration date, the Australian Securities & Investments Commission (ASIC) sends you a Company Statement outlining the particulars it has on file. If you have appointed someone to manage your company, the statement will be sent to them.

Leave it with Creative Crunchers

We can assist with ASIC compliance and take the stress out of dealing with ASIC directly. Regulations dictate that any out-of-date details must be updated within strict timeframes. There are also annual fees which have to be paid by the due date to avoid late fees and potential deregistration.

The last matter to attend to is a Solvency Declaration, which must be completed and signed by the directors each year. This statement certifies that in the directors’ opinion, the company will be able to pay its debts when they fall due. The directors must have a reasonable basis for their opinion and the resolution must be passed by a majority. A solvency declaration must be made within 2 months of the company’s review date and kept with your company’s records.