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Be aware of Trademark scam and false billing. 2018/08/16 01:13

In this year, we often see an increase reports of false billing and unsolicited invoices being sent to our trademark applicants. Once you apply for an IP right your details become publicly available.Organisations which send false billing and unsolicited invoices trawl this kind of data to identify new targets. In some cases these invoices have the appearance of coming from an official source. But it is important to know the companies sending such invoices are not linked to any government agency or IP office and you are NOT obliged to pay their fees. These false billing and unsolicited invoices may offer to 1. register or renew your IP right for a fee over and above the actual registration or renewal fee, 2. publish your patent or trade mark in an international publication or register, 3.provide a monitoring service for your patent or trade mark. Please be aware that trademark applicant will only receive all notice and letters from the agent, not someone else. Letters from unfamiliar organisations should be treated with caution, especially letters requesting payment for unsolicited services. If you are unsure or doubt about invoices or letters you receive, don't hesitate to contact IP Australia or Company123 support team.

What is a business plan and why do you need it ? 2018/08/16 12:53

A Business plan outlines how you intended to run your business or company, and build its own core value within. Ultimately, it's a quality communication tool that outlines your vision and how to intend to achieve the objectives and goals in both short/long term. Our business plan is drafted by experienced lawyer of 30 years of business & legal experience, Chartered Accountant with 20 years busienss and tax experience. Whether you've just started out or been running for years, business planning can be the key to your success. Mainly 2 reaons why you need to get your business plan today: 1. It's vital to helping you get finance. If you're seeking finance for your business, you'll need to show banks and investors why they should invest in your business. A well-researched business plan able to show better understanding about your business idea and predict profits and income streams. 2.Great control over your business Business plan gives you the chance to learn about your market, industry and competitors. Identify challenges you may come across and work out the strategies to avoid or overcome. Understand your business finances, including manageing cash-flow and determining your break-even point.

How to be a victim of your own success by failing to trade mark 2018/01/15 04:12

Didn’t trade mark your brand? You now run the risk of someone else using your brand and associating you business’s goodwill with their brand or business. Registration is the highest and best form of brand protection. The cost of protecting your business’s brand from if your trade mark is registered, is a fraction of the cost that you may face if redress is sought for unauthorised use of your brand by another party. A trademark is “any sign capable of being represented graphically and distinguishing the goods of one person from those of another person”. A trade mark can consist of anything from a name, picture, colour, smell, word, shape or an image or a combination of those elements. Please note that registration of a business or company name will not give you any intellectual property protection. Already registered? If yes, are your trade mark registrations up to date? Your trade mark is your brand. If you have changed any aspect of your brand (including colour or style), we stress that your trade mark registration is updated at the same time otherwise you risk losing the protection of your registered trademark. Renewing your existing trade mark registration Trademarks must be renewed every 10 years. We can guide you through this complicated process and ensure you protect yourself and your successes through trade mark. If you want protection for your trade mark overseas, we can help with applications which can be filed directly with each country. Classes of Goods and Services When you apply to register a trade mark you must provide a description of the goods and services you intend to use your trade mark on. These goods and services need to be identified into one or more classes. Recognising the correct classification of goods and services for your trade mark can be done via a ‘Trade marks classification search’. Goods and Services are divided into 45 classes. To help you decide what goods or services to list you should think about the exact nature of your business and ask yourself the following - Where do you derive your business income? - What is the nature of your business? - What are you known for by your customers/clients? - What products or services does your business provide?

Valuing your trading stock correctly could help your business 2017/02/22 02:16

As a part of running any small business is good record keeping, and this need is highlighted even further when you’re in the business of selling goods. However, inventory management doesn’t stop by simply counting the number of goods you have on hand as the way in which goods, commonly referred to as trading stock, are valued can have an impact on the gross profit, cost of goods sold and subsequently the inventory figure listed in the balance sheet. To assist small business owners with tracking and valuing their trading stock, accounting platforms such as Xero can provide live information of stock on hand meaning that physical stocktakes may soon be a thing of the past. In Australia, Section 70-45 of the Income Tax Assessment Act (Cth) 1997 outlines the three ways in which trading stock can be valued, these are; -         Cost Price -         Market Value -         Replacement Value. Whilst each of these are uniquely differen,t there is no ‘perfect fit’ for valuing trading stock and each business should consider their own circumstances before electing which method to use, with the general rule of thumb to be conservative and not over value your stock. Of course, one thing all three have in common is that the net value of GST is taken into account.  Firstly, the Cost Price Method takes into account all of the fees and costs incurred in bringing stock to the business ready for sale. The market value is the value or price of stock as it is sold to customers currently. Finally, the replacement value is the cost associated to buy an identical item from the market on the last day of the financial year. Businesses         can choose which way to value their trading stock at the end of each year and can change in between methods from year-to-year so long as they nominate the method with the ATO. One direct impact from changes in value is that an increase to a businesses trading stock value over the year is considered to be assessable income. Alternatively, if the value of stock has decrease over the course of the financial year, this loss in value can be recorded as a deduction. If your business is considered a small business entity and the change in value of trading stock is less than $5000, The ATO small business concession allows for SME’s to choose to not conduct a formal stocktake or take into account changes in value. Although the ATO does require medium to large entities to conduct physical stocktakes as close to the end of financial year as possible, cloud accounting software can provide live information about stock on hand, current market value, profit margins and assist with the overall inventory management of a small business. Using features such as tracked inventory, any accounts affected by the inflow or outflow of stock will be automatically updated such as accounts payable & receivable, sales and stock returns. To see if cloud inventory management is suitable for your business, try a free trial here http://ul.tc/Xero. The information provided in this article is aimed at sharing information and ideas amongst professionals connected through social medai and should not be considered advice. Indivduals should consider their own circumstance and seek professional advice about how to best manage and run their small business.

Being on top of your bookkeeping with Cloud Accounting makes tax time easy 2017/01/13 09:44

Every business is different, from the activity is does to earn income to the number of people who work within in it but whilst there are a number differences between every business, the one thing that remains constant is the need for good bookkeeping. The process of recording & reconciling every financial transaction that comes through the business once meant that owners and managers would spend hours going through receipts and ledgers but thanks to the advances in cloud computing, this is no longer the case. Cloud Accounting systems such as Xero not only allow for easy bookkeeping & reconciliation but also ensure that data and invoices are secured safely in the cloud, meaning that your financial records are kept safe in case of a system outage. Not only are the advances in Cloud Accounting making the management of businesses easier, it also is a great tool when it comes to preparing and lodging your tax returns.  As a part of being ready for tax time, business owners would normally dread having to prepare income reports, reconcile statements and sift through receipts & invoice papers however, by having all of your records stored securely online, this is now a thing of the past. Even if you are not the best at reconciling your accounts every month or quarter, having all of your business transactions stored in the cloud makes this much more time efficient then the traditional way of preparing accounts. This is because for the majority of cloud accounting systems currently available on the market, their software can directly link to your business bank account, meaning that there is no chance of loosing receipts or double counting invoices. In addition to this, because everything is stored in the cloud, there is no chance of you loosing the files due to software corrupting or issues with your computers. As we have an ever advancing digital the world, The Australian Tax Office has worked alongside some of these cloud accounting providers to allow for complete integration for lodgement of documents including Tax Return, Activity Statement & Payment Summaries. This integration completes a full circle on accounting and bookkeeping requirements for small business, with transactions allowed to be traced and reconciled with ease, a simple report generation process stored securely in the cloud which can be directly lodged with the tax office. Something that hasn’t been touched on is the fact that cloud accounting is designed for small business owners, not accounting professionals. The user friendly interface and functionally across multiple devices allows business owners to seamlessly integrate this into their operations and thanks the app add-ons such as invoicing and payroll, it can become a very strong asset to the business. It should also be said that with all great features cloud accounting offers, these usually come as part of a membership packages with varying fees depending on the level of sophistication required for you reporting. However, a number of providers do offer a free trial so you can see how it all works for yourself before committing. Please follow the below link to register for a free trial of Xero - http://ul.tc/Xero

Changes to Trade Mark Pricing 2016/10/13 09:47

As of Monday, October 10th 2016 IP Australia made significant changes to their fee structuring across a range of services, including trade marks. With this, Company123 Pty Ltd has also updated their prices to stay consistent with the government charges. Firstly, the Trade Mark Sear Report will stay remain at $180 as standard, with no limit on classes. The government class fees for a trade mark application has increased from $120 to $250 per class and Company123's prices have corresponded with this, only increasing by the $130 government fees. If an applicant wishes to have the application expedited, the fee has increased by $80 from $120 to $200 again, with no increased to our service fees. What this means is that an trade mark application lodged after October 10 2016 no longer has to pay the $300 registration fee upon being granted the IP right, as this fee has been waived. Company123 continues to be one of the easiest and most affordable ways to register your trade mark in Australia, with a number of international partners to assist with foreign IP Rights. For more information click on the Trade Marks tab from the menu bar or call 03 9832 0660.

The Effect Official Interest Rates Have on Small Businesses 2016/09/09 11:27

Australians have always paid attention to what the Reserve Bank of Australia does with the interest rates each month and here’s why you should to. Interest rates affect the cost of borrowing money and therefore play a role in the cost of you doing business. Coupled with the fact that many businesses rely on some form of credit or loan to fund their business activities. Interest is the cost of borrowing money and the reward for lending it. You pay interest on the money that you borrow and you earn interest on money you invest. What are Interest Rates? An interest rate is the percentile rate that is charged on top of the loan. For example, if you have a loan for $1000 with an annual interest rate of 5%, you’ll be charged $50 interest per year. Or alternatively, if you’ve invested $1000 into shares with a growth of 10% annually, you’ll be earning $100 in interest per year. When interest rates rise, the cost of borrowing money also rises. Of course, the opposite of this is also true, when interest rates go down the cost of borrowing is reduced. For example, a 1% drop in interest rates would reduce interest payments by $1 for every $100 borrowed. How do interest rates affect my business? Lower interest rates mean that it is more affordable to borrow money and small businesses can take advantage of low rates to pay down debts. It’s extremely advantageous for businesses to borrow money when interest rates are low because it means that businesses are able to expand with minimal costs. What happens when Interest Rates rise: - Loan repayments increase - Disposable income for businesses decreases What happens when Interest Rates decrease: - Cost of borrowing decreases - Repayments are more affordable - Disposable income for businesses increases Different types of Loans play a significant role in your loan repayments The type of loan is important. People with fixed rate loans will barely notice changes to interest rates, but if you’re on a variable loan – interest rates will play an active role in your loan repayment. A fixed rate loan means that your interest rate is set at a fixed rate for a predetermined time. This is optimal when the rate is low, and you’re able to fix it at that low rate. A variable rate loan means that interest rates will change in relation to the official rate. Borrowers with variable loans are exposed to interest rates rises but also benefit from any reductions over the long term. It’s important that small business understand and are able to use interest rates to their advantage. If interest rates are high then this may have an impact on expansion and lending costs as opposed to when they were lower.

Company123.com.au exhbiting at the Franchise & Business Opportunities Expo this weekend! 2016/08/25 10:23

Company123.com.au is very excited to again be exhibiting at the Franchising & Business Opportunities Expo at the Melbourne Exhibition & Convention centre over the weekend. This marks our third show as a part of the expo and provides us a great chance to meet our loyal clients face to face as well as introduce ourselves to some new ones. Over the next 3 days the Company123 staff will be on hand to pass out information, meet clients and assist with any registration needs - if you'd like to come along get in touch with our service staff on 03 9832 0660 or support@company123.com.au for a free ticket on us, we look forward to seeing all the Melbournians there.

CGT Clearance Certificate 2016/08/04 09:40

Company123 Pty Ltd is today announcing the launch of the ‘Property Withholding Clearance Certificate’ feature to the existing services as a response to the Federal Government’s new withholding tax on the sale of real estate for more than $2million. From 1 July 2016, any real estate property sale exceeding $2million is subject to a 10% withholding tax on the sale price which is to be remitted to the Australian Taxation Office by the purchaser. Australian tax residents will have to obtain the clearance certificate prior to settlement in order to avoid paying the withholding tax. Company123 has built an intelligent platform that captures all the required information and lodges them directly with the Australian Taxation Office. The clearance certificate will be issued by the ATO within 28 days. The change is expected to impact upon professionals such as legal practitioners, surveyors, real estate agents and accountants who facilitate such transactions.With the property market still booming in the nation’s Capital Cities, Company123 anticipates the simple form will become more popular during the Spring boom period. Clients receive a copy of the form that is lodged with the ATO before directly being sent the clearance certificate. The fee for this services is $199. For more information get in touch with our staff on 03 9832 0660 or email support@company123.com.au

Deed of Varations 2016/07/29 12:49

It's not uncommon to need to make changes to your trust deed once it becomes operational, and Compny123 Pty Ltd is proud to help facilitate this service. Based upon the trust deed, amendments can be made however this is not as straight forward as having the Word Document changed. Once a trust has become operational by way of paying stamp duty, signing the execution, registering an ABN or opening a bank account any changes need to be made by a deed of variation where the trust allows it. A deed of variation outlines the particulars of the trusts and the clauses that allows the change to occur, highlight the exact wording that will be amended to satisfy the change. Company123 is able to organise deed of variations for clients through our partnered law firm, with competitive fees for the service depending on the extent of the work. For more information or to organise a deed of variation get in touch with our staff on 03 9832 0660 or send a message to support@company123.com.au

Maintaining your Trade Mark 2016/07/21 11:17

Whilst the application process may appear to be long and tedious, it is ultimately worthwhile as being granted a Trade Mark grants you exclusive use of your name or logo for 10 years. During this time, it is important to be aware of the guidelines around the use of the mark. Firstly, a common misconception with trade marks is that the symbol ™ is best way of letting consumers know that the mark is protected, however ™ in Australia holds no legal standing. The correct symbol to use is ® which means ‘Registered Trade Mark’. It is also important to note that you need to use your trade mark or risk losing it. If a registered trade mark is unused for three years, it can be removed from the register. As with any registration, it is also important to keep your contact details up to date so that any correspondence or renewal notices can be delivery as efficiently as possible. As you hold the exclusive right of the trade mark you are entitled to oppose the acceptance of another trade mark you think infringes upon yours. For more information about maintaining your trade mark visit http://ul.tc/MaintainingTM or get in touch with our staff on 03 9832 0660.

Partnership with Inside Small Business 2016/07/15 01:41

As Company123.com.au continues to build itself as a start-up central and hub for small business, we are pleased to announce our latest partnership. All Company123 clients now have the opportunity to stay up-to-date and informed with everything happening in the small business environment, with a free online subscription to Inside Small Business Magazine. Inside Small Business is a print and online magazine dedicated to small business stories and issues throughout Australia. Inside Small Business also focus on a number of industries including Retailing & Franchises. Inside Small Business also produce a quarterly magazine which expert tips, advice and interviews. For more information about our partnership with Inside Small Business get in touch with staff on 03 9832 0660 or click on the ISB logo on the home page.

Changes to ASIC Fee structure for the 2017 Financial Year 2016/06/29 09:14

As is consistent with every new financial year, ASIC will be increasing their prices from this Friday, July 1 2016 across a range of registrations including: - Company Registration - will be $469, up by $6 - Annual Review Fee - special purpose company will be $47, up $1 - Annual Review Fee - standard company will be $249, up $3 - Company Name Change - will be $387, up $5 - Voluntary Deregistration of a Company - will be $38 - no change. So to take advantage of the current pricing of $495 and create the most value for your clients, be sure to register all your companies by June 30. For more information about prices, click through to our website or get in contact with our service staff. Happy EOFY!

The role of the Settlor in a Trust 2016/06/16 10:43

We receive a number of questions in regards to the role of the settlor in a family trust, as it is important to fulfil this role in order to have a compliant trust. The role of the settlor is to open the trust by paying settled sum to the trustee. The settled sum is the first unit of property that the trust holds and can be a nominal amount of $10.00. It is important to note that a settlor cannot be entitled to receive any disbursements or benefit from the trust, and therefore cannot be a trustee or beneficiary. Simply, the role of the settlor ends once the settled sum is paid and they hold no responsibilities or liabilities within the trust after this. It is important to ensure that your trust is setup correctly as any changes may incur an additional fee. For more information about setting up a trust get in touch with our staff on 03 9832 0660 or support@company123.com.au

SMSF Trustee Declaration 2016/06/09 10:48

As a part of establishing a Self-Managed Super Fund, all trustees and directors of corporate trustees must complete and sign a trustee declaration form acknowledging their obligations and responsibilities as a trustee. Features of the trustee declaration form include the sole purpose test, trustee duties, investment restrictions as well as record-keeping, reporting and lodgement obligations. As with any legal document, it is important to read and understand the obligations set out in the trustee declaration form, particularly as there are very tight restrictions on what a SMSF can do with its assets. A copy of the trustee declaration is free to download from the ATO website or you can request our staff to produce separate forms for your trustees, as each individual will need to complete one. For more information about Trustee declaration forms head to the ATO website http://ul.tc/SMSF or call our staff on 03 9832 0660.

Trade Mark Scams 2016/06/02 10:22

Whilst applying for a trade mark can be a long and confusing process, we are with you every step of the way to help make sense of it all. As a part of this process, your application is published for public record so that IP Australia are able to satisfy a number of international conventions in regards to trade marks and intellectual property. Unfortunately, as the information apart of the application is available to members of the public, a number of scams and fraudulent organisations will send materials requesting additional payments or bank transfers in order to secure a quicker registration. As the authorised agent for your trade mark application, all information and payments will come directly from us here at Company123 and any material received from other organisations should be reported or ignored. For a full list of fraudulent organisations visit https://www.ipaustralia.gov.au/ip-infringement/more-about-ip-infringement/unsolicited-invoices and as always get in touch with our staff should you have any further questions.

Registration payment for a Trade Mark 2016/05/26 01:23

trade mark is a public identity of your product or service, used to distinguish your goods or services from others and when granted you have the right to use this for 10 years before it will need to be renewed again. As a part of our trade mark application service, we will be with you every step of the way from an initial search report, right up until registration payment. Built into our costs our the Government class fee, our lawyers fees and an agent fee. However, there once IP Australia grants you a trade mark, there is an additional fee of $300 per class & $80 administration fee in order to register the trade mark. This amount is payable within 6 months of the advertisement period, and should your mark be objected to during the period, there is an option to refund the amount payable. For further information on trade marks please call our staff on 03 9832 0660 or support@company123.com.au

What roles are in a trust? 2016/05/19 10:41

A trust is a very effective and common way of protecting assets and taking advantage of a number tax incentives however before setting one up, it is important to understand all the role to be filled within a trust. Firstly, a trust has beneficiaries as these are the individuals who are entitled to a share of the income or benefit that the trust produces such as interest, rent income or profit from a small business. Whilst anyone can be a beneficiary, there are some guideline and rules to be aware of. Another important role in the trust is the trustee, as this is the legal face of the trust. The role of the trustee is controls and decides actions of a trust including how to distribute net income of a trust, purchase decisions of the trust as well as the day to day management of the trust. A trustee can either be an individual or a company. Linked to the trustee is the Appointer, as this person as the power to appoint or dismiss the trustee and therefore is very important. Finally, some trusts, including a family trust, will have a settlor. A settlor must be an independent third party who is not a trustee, beneficiary or appointer and their role is to simply an individual to contribute a notional sum of capital, usually $10 to create a trust. After this event, Settlor performs no active duty in a trust. If you have any further questions feel free to contact or staff on 03 9832 0660 or support@company123.com.au

Things to consider before setting up a SMSF 2016/05/13 09:28

Company 123 is proud to now offer Self Manage Super Fund set ups through our website, however there are a number of personal factors to consider before creating an SMSF. As with any financial product, any individuals looking to set up a SMSF should seek advice from a financial services professional who has significant knowledge of their financial history. The following points are general guidelines outlined by organisations such as the Australian Taxation Office & AMP and should not be a substitute for seeking your own professional advice. Firstly, as a guideline, the ATO recommends that a Super Fund should have an account of at least $200,000 for a SMSF option to be considered. Individuals should also consider the ongoing fees relating to audits, reporting and compliance. Personally, individuals looking to establish an SMSF should also have the time and resources to be confident to manage their investments, as a significant amount of time is required to help reach your goals, which should also be another consideration. As everyone ones to do different things and live different lifestyles in retirement, you should have some clear goals on how you want to spend your wealth. As always, it’s best to seek professional advice in regards to your personal circumstances and visit the ATO website for a brief outline http://ow.ly/sIHV3009nBt.

Budget 2016 Update 2016/05/05 11:42

Tuesday's Budget provided a number of incentives for small business and increase the small business threshold from July 1. Key points for business from the budget include: • Effective 1 July the small business tax rate will be lowered to 27.5% and the turnover threshold to access it will increase from $2 million to $10 million • Each year the turnover threshold for access to the lower tax rate will be increased, to $25 million in 2017-18, to $50 million in 2018-19 and $100 million in 2019-20 • Phase two will see the threshold continuing to step up each year until 2023-24, before reducing the 27.5% rate for all businesses to 25% at the end of 10 years in 2026-27 • An increase in the unincorporated small business tax discount to 8% and an extension of the threshold from a turnover of $2 million to less than $5 million • From 1 July 2016 the instant write-off for equipment purchases of up to $20,000 will be extended to businesses with a turnover of less than $10 million With all the incentives for small business growth there's never been a better time to register a company so feel free to get in touch with our staff on 03 9832 0660 or support@company123.com.au

SMSF now available through Company123! 2016/04/28 01:06

Completing our full range of registration services, Company123 is proud to announce today that Self Manage Super Fund setup is available through our website. With the deed and supporting documents prepared and written by a specialist SMSF attorney, we provide our clients with all the necessary documents to establish a fund. As always, we've maintained the simple, 3 step format to setup the deed and documents are emailed instantly for just $90. Company123 clients should be aware that whilst we provide the deed and necessary forms to establish a SMSF, you should always seek advice from a trusteed financial advisor or legal professional before setting up a Self-Managed Super Fund. Our support staff are happy to assist with any errors or technical difficulties on the form so should you have any questions or problems call 03 9832 0660 or email support@company123.com.au

Using a trading name under a company 2016/04/21 10:31

By registering a company name with Company123, this means that no other entity can register an identical company or business name, and clients are free to display their trading name as Company Pty Ltd. However, in the case where a number of different businesses are being run through the same corporate entity, you may wish to register the business name under the company. Practically, this means the business will be set up as ‘Company Pty Ltd T/A Easy Trusts. This allows you to maintain a corporate structure whilst using an existing business name or have a business name more relative to your trading activities. Registering a business name can be done simply through the ASIC Connect website. For more information on registering a business name under a company call our staff on 03 9832 0660 or email support@company123.com.au

Building your website with Company 123 2016/04/14 09:32

We’re very proud to offer a domain registration service as a part of the company registration process and also in its own right, but did you know Company123 can help you build your website even further? After successfully registering your domain, you will be taken to our online re-seller page, where you can purchase everything you need to run a world class website from SSL certificates, email hosting and directory listings plus, we can also assist in setting up an e-merchant facility. As we automatically setup an account for you, there is no need to login and resubmit information over and over, making building your website as easy as our company incorporation. A great feature of this service is the support line, so should you have any issues or questions you can get in touch with our staff on 03 9832 0660 or support@company123.com.au. So whether to set up email or run a sophisticated online store Company 123 & our partners Crazy Domains make it easy.

I’ve received my trust deed, what’s next? 2016/04/07 09:51

Company123 offers a simple & affordable way to create either a Unit or Discretionary Trust, with all required documentation delivered instantly upon payment. However once the trust deed has been generated, there are a number of other steps that need to be completed for the trust to be operational. Firstly, all parties are required to sign the deed where indicated, as well as a witness to the signatures. The trustee will also have to sign the consent to act document. Once the deed has been signed it will need to be stamped by the state revenue office and the duty paid where applicable. For help with stamping, contact your State Revenue Office. When the deed has been stamp, or issued a stamping certificate, you will then be able to take these documents and open a bank account. As always, it’s best to get advice from a legal professional or accountant before setting up any business structures. For more information on trusts get in touch with our staff on 03 9832 0660 or check out the FAQs page on our site.

Converting a registered business name 2016/03/31 09:14

ASIC is the governing body for both business & company names in Australia, meaning that no two names can be the same. This also means that when the time comes, a sole trader or partnership is able to convert their existing business name to a company name and whilst this can be a complicated process, we’ve built it into our registration form making it easy. The first question of the form asks for the proposed name of the company, with the second question being ‘Is the proposed name identical to a registered business name?’. In this instance, clients would select ‘yes’ and provide the relevant information. In the case of a sole trader, this would be an ABN and as long as the individual’s details match those of the registered business name, the transaction will occur smoothly. Where the registered business name is held by a partnership, all the individuals in the partnership will have to own shares in the new company. The same occurs where the registered business name is held by another proprietary limited company, as this company will have to be a shareholder, therefore making the new company a subsidiary. For more information on converting a registered business name get in touch with our staff on 03 9832 0660 or support@company123.com.au

Trade Mark Process 2016/03/24 10:21

One of the newest features to the Company123 site is the trade mark registration service. As clients may be aware a registered trade mark gives you the exclusive legal right to use, license and sell your intellectual asset in Australia, however the process isn’t as straight forward as registering a company. Once you have submitted an application through Company123, our lawyers take the information and lodge the registration with IP Australia. Within 5 working days, we receive a Notice of Filing which simply means the application has been accepted and is now waiting to be examined, which usually take 8-10 weeks. After this time, we will receive either Early Notice of Acceptance to say that it has passed the examination stage or an examiners report stating issues with the application. If your trade mark passes the examination stage, it is then published for public record for a period of 4-6 months, allowing other trade mark holders and traders to view the mark and make an objection where necessary. After this time, if there are no objections or issues, IP Australia will grant the mark and clients will have 6 months to pay the registration fee of $300 per class. For more information on trade marks visit https://company123.com.au/trademark/index or get in touch with staff on 03 9832 0660.

Sydney Franchise & Business Opportunies Expo this weekend! 2016/03/17 09:08

After a very successful Melbourne 2015 expo, Company 123 is excited to be a part of the 2016 Sydney Franchising & Business Opportunities Expo at the Royal Hall of Industries, Moore Park from March 18-20. The expo provides a great opportunity for us to reach more of our loyal clients and see how we can help new business ventures with our range of registration services. Over the next 3 days the Company123 staff will be on hand to pass out information, meet clients and assist with any registration needs - if you'd like to come along get in touch with our service staff on 03 9832 0660 or support@company123.com.au for a free ticket on us, we look forward to seeing all the Sydney-Siders there!

DesignCrowd Offer 2016/03/10 10:17

We are once again excited to announce our third new business partnership, this time joining forces with online crowdsourcing platform, DesignCrowd. This partnership with DesignCrowd provides a perfect complimentary service for new companies looking to create fantastic branding for their business, and once you’re happy with the design we can also assist in registering a trade mark. At DesignCrowd, Company123 customers will find fast and affordable access to the world's best graphic designers, offering infinite selection from graphic designers all over the world whose combined services offer design for logo, website, graphics, and much more. Company123 is offering clients 20% off the cost of posting fees through an emended link located in the menu bar on our home page. To take advantage of this offer click the Logo Design logo on the menu bar or get in touch with our service staff on 03 9832 0660 or email support@company123.com.au.

Virtual Office Partnership 2016/03/03 11:35

As a part of our ongoing endeavour to be a full service provider for start-ups and small businesses, Company123 is proud to announce our partnership with Asian Pacific Serviced Offices. AS a part of the company application form, clients will be promoted if they would like to be contacted about a discounted virtual office package. A Virtual Office provides full benefits of a physical office at a fraction of the price of renting a physical office. Full benefits of physical address to see clients, telephone answering, mail collection and board room hire. Asian Pacific offers both virtual and physical offices Australia wide and should you request information, a member from the Asian Pacific team will be in contact with you. To take advantage of this offer complete the company application form or get in touch with our service staff on 03 9832 0660 or email support@company123.com.au.

Partnership with Xero 2016/02/25 11:41

Company123 is very excited to announce our partnership with Xero Accounting Software. As a part of the company application, Company123 clients are given the opportunity to register for a free month’s trial of Xero, a cloud based bookkeeping and accounting software that is ideal for small to medium sized businesses. After the first month, clients are then given the option for a full subscription to continue their bookkeeping or opt out with no obligations or charges. Xero fully integrates the accounts and invoices of a business, including automatic bank and credit card account feeds, invoicing, accounts payable, expense claims, wages & more. For more information about Xero and how it could benefit your company visit http://www.kqzyfj.com/click-7984382-12413521-1447975050000 or get in touch with our service staff.

Officeholder Details & ASIC 2016/02/18 11:19

A proprietary limited company is made up of a number of individual roles including directors, shareholders, secretary and public officer and these roles are filled at the time if application, but can be changed at a later date. When nominating officeholders as a part of the application you must include: name, date & country of birth as well as residential address. A common reason why an application is rejected by ASIC is that the officeholders address is an office and commercial building. ASIC requires that the personal details of officeholders are supplied so that checks and balances can be carried out with other agencies at such as the ATO. For more information about ASIC’s policies head to http://asic.gov.au/for-business/running-a-company/company-officeholder-duties/your-company-and-the-law/ or get in touch with our support staff on 03 9832 0660 or support@company123.com.au.

ASIC Registration Outage 2016/02/12 04:02

Company123 would like to inform all customers that on February 14 2016 between the hours 8AM & 1PM AEDST, ASIC will be carrying out routine maintenance to their systems, including the EDGE software which handles company registrations. This could mean any application submitted during this time are unable to be processed until the maintenance is finished at 1pm. A great feature of the Company123 form is that we save your application so that if you do happen to submit during this time, all data will be saved and available for re-submission at a later time. If you'd like any further information please contact our staff on 03 98320660 or email support@company123.com.au

What is involved in registering a trade mark? 2016/02/11 11:19

As you may have seen, Company123 now proudly offers a trade mark registration service as a part of our website. Registering a trade mark gives you the exclusive right to use your trade mark as a brand name for the goods or services specified in the registration, otherwise known as a class. You can begin in trade mark application in one of two ways. Firstly, if you are confident that your trade mark will be approved by IP Australia with no hassle, you can proceed straight to the application. Here, our trade mark lawyer will prepare and lodge the application within 2 weeks, which will then move to the examination stage under the IP Australia examiner which can take up to 13 weeks to approve, Once approved, you then have 3 months to pay the register fee to IP Australia directly. Alternatively, if you are unsure you can first request a formal search report where our trade mark lawyer will conduct a search and provide general advice on how the likeliness of your application. For more information visit our trade page at https://company123.com.au/trademark/index or contact our staff on 03 9832 0660.

Now I’ve registered my domain, what’s next? 2016/02/04 10:09

The newest feature of our website allows clients to register a domain name. This allows you to purchase a web address either directly or can be done as a part of the company registration. However, once you have purchased a domain name through Company123 there are a number of additional steps to carry out to setup your website and email addresses. Firstly, you will need to purchase a Website Hosting package which gives you access to the server to build a website and host email accounts. There are a number of server packages available, so it’s best to do your research to find the best on for you. Depending on your skills you will then be able to build your website or use a website builder. From here, to secure your website, you may also want to purchase an SSL certificate which secures your website for customers and other visitors. For more information about domains and creating a website get in touch with our service staff on 03 9832 0660 or support@company123.com.au.

How do I best protect my business? 2015/12/16 11:34

When you’ve finally set up your business and have got it running smoothly, you want make sure that you keep it running well but also protect yourself. There are a number of different legal mechanisms in place that you can utilize to protect yourself and your business across different areas. Firstly, by incorporating a proprietary limited company you create a separate legal entity that can incur fees and be sued in its own right. This therefore protects directors and shareholders to some degree as, if you abide by all the rules and guidelines, you are personally protected from the company’s liabilities. A trust can also be an effective tool in running a small to medium business, as by having a trust with a company as a corporate trustee this again provides protection for individuals running the business, but it can also provide a number of tax benefits in terms of distribution of income. As your company and brand earn a reputation, you want to protect this goodwill as this becomes a major revenue earning asset. By registering a trade mark, this allows you to protect the name and logo of your business, giving you monopolistic use for up to 10 years in Australia, which prevents other traders from passing off or trying to use your reputation to gain an advantage. Finally, as the online world is continually growing, you want to make sure you stay connected with customers and stop anyone from deceiving them. By registering a domain, this allows you to create emails and websites from which you can sell and advertise your business globally. For more information about how Company123 can help you protect your business call 03 9832 0660 or email support@company123.com.au

Domain Registration now available 2015/12/10 12:45

If you are one of our highly valued customers, you may have already seen that Company 123 can assist with domain registration through on of our partner companies. However, we are now proud to offer this service internally, meaning that Company 123 is your one stop shop for Company, trust, trade mark and domain registration. For $35, you can have a customised website address as well as email facility. If you wish, Company 123 may also be able to assist in setting up an online merchant facility if you’re looking to trade online. This latest development makes Company 123 the perfect place to start a new business, as you can set up a trust, register a new company, trade mark the company’s name and create a website all in one place – as easy as 123. For more information call 03 9832 0600 or email support@company123.com.au

What is a Trade Mark? 2015/12/03 12:03

A trade mark is a legal tool that gives exclusive commercial rights to the owner, as the trade mark protects the brand or identity of your company. A trade mark is used to distinguish your goods or services from another entity, therefore protecting it under Intellectual Property Law as by registering a trade mark, this gives you the right to use, license or sell it within Australia. In addition to being able to use the ® on your products and marketing, registering a trade mark allows you to take action against anyone trying to use the name or brand. For more information about trade marks visit http://www.ipaustralia.gov.au/get-the-right-ip/trade-marks/ or call our service staff on 03 9832 0660

Trademarking now available through Company123! 2015/11/23 11:57

Complementing our existing range of registration services, Company123 is proud to introduce our simple trade mark registration service. Maintaining the clean, easy-to-use functionality of the site, our service offers 3 tiers of trademarking: - Trade mark search - Trade mark pre-registration application - Search & Application Combo Trade marks offer an extra layer of protection for you and your clients as they give exclusive legal right to use, license and sell your intellectual asset in Australia. With over 2500 companies registered & more than 100 trusts set up, Company123 is the best place for all your registration needs with domain and SMSF services also launching in the near future. For more information on trademarking, click through to https://company123.com.au/trademark/index or get in contact with our service staff.

Creating a subsidiary company 2015/11/18 11:19

If you already have an existing business and are wishing to expand, mechanisms are in place that allow you to register a new company as a subsidiary company by using our simple process. Just like establishing a company in its own right, creating a subsidiary can add a layer of protection for directors and shareholders and is relatively straightforward process. Firstly, the application will ask ‘Will the company have an ultimate holding company? Here, you would select yes and complete the required information. On the same page, you will then be prompted with ‘Are there companies who will own shares in your company? If yes, select number’ and here, you would select 1, or however many companies you would like to own shares. Then, in the second part of the form in the shareholder details, you will be prompted for the ACN and Company name that will act as a parent for the new company, and subsequently allocate the desired number of shares. This will register the new company with ASIC as a subsidiary of your existing company, and is reflected on all of your company documentation. For more information about creating a subsidiary get in touch with our service staff on 0398320660 or support@company123.com.au

Mistakes on Registration 2015/11/04 10:43

Most of the time, if you make a mistake on your application our system will pick it up and won’t allow you to proceed. Occasionally, some basic mistakes such misspelt names, incorrect addresses and dates of birth go through unnoticed and these errors end up being recorded by ASIC’s registry or on the trust deed. If you notice a mistake on your documents, the best thing to do is to get In touch with the Company123 service staff who are happy to assist with any matter. As an ASIC registered agent, we are able to facilitate some minor changes to company registrations within 24 hours of the registration and are happy to re-issue correct documents. After this time, our staff can assist you through the process of submitting a change with ASIC. In terms of trusts, staff are able to assist with small errors such as those mentioned previously, however for structural changes such as changing beneficiaries or appointers, this will need to be done by way variation of deed by a legal professional. Should you have any issues or questions, get in touch with our staff on 03 98320660 or support@company123.com.au, and visit http://www.asic.gov.au/regulatory-resources/forms/forms-folder/484-changes-to-company-details-for-australian-companies/ for more information.

Benefits of a Company Structre 2015/10/28 11:16

When you register a company, some significant upfront fees are incurred including the $463 charged by ASIC, however despite this initial cost there are a number of benefits of using a company structure to carry on your business. Firstly, creating a company creates a separate legal entity which can buy, sell and obtain finance in its own right. This creates a layer of protection for shareholders as liability is limited. As companies are registered nationally, you are able to trade across Australia without needing to register or comply with certain state regulations. The current compliance laws allow easy exchange of shares, meaning that after you establish a company, it is a relatively straight forward process to add shareholders to your company, but also remove any shareholders if need be. In addition, shareholders are also able to be employed by the company. Finally, this year’s Federal Budget was particularly favourable to small companies, with incentives including tax discounts, accelerated asset depreciation and deduction increases. For more information about the benefits of a propriety limited company structure get in touch with our service staff or visit http://www.asic.gov.au/for-business/your-business/your-business-structure/

My application has been rejected - what now? 2015/10/21 11:21

The majority of company registrations submitted through Company123 get approved in under a minute, however it is not uncommon for an application to be rejected by ASIC. This can occur for a number of reasons including errors in member’s details, an incorrect ABN number, similarities to an existing company or an administration error. Whilst this does create some slight inconvenience, the process of amending the application is relatively straight forward. Firstly, ASIC will always provide an error message as to why an application was rejected e.g. ‘invalid officeholder details’. If it is clear to you how to fix the error, click the “Resubmit Data” button on the bottom right hand corner and you will be able to amend the error and then resubmit the application. However, if the error is not clear or you would like some assistance with fixing your application, get in touch with us on either 03 9832 0660 or support@company123.com.au and our experienced staff will be happy to assist with your application, so you can be registered and ready to trade as quickly as possible.

ASIC Manuel Decisons 2015/10/14 11:16

When you register a company through Company123, generally you will receive instant approval from ASIC, with documents delivered in under 30 seconds. However, occasionally an application can be flagged for what’s known as a ‘manual decision’, which means rather than your application being submitted electronically, ASIC wants to physically review it to ensure all essential elements are satisfied. This can happen for a number of reasons including that the proposed name is similar to existing name, the proposed name includes a word not registered on the ASIC database or some of the officeholder details may conflict with the ASCOT system used by ASIC. This doesn’t impact your registration significantly, other than the time it takes to approve your application extends by roughly 10-20 minutes. Please note, if your application is referred to a manual decision outside business hours, it will be processed the next business day. If for whatever reason ASIC rejects your application after a manual decision, you can get in touch with one of our service staff who are happy to assist with your application. For more information get in touch with our service staff or head to https://connectonline.asic.gov.au/OPH/HelpLandingPages/SCH_ACON_TH_CHK_BN_SCH

Propsed CGT Invesment Concessions 2015/10/07 11:27

This week members from the Turnbull government have suggested more tax concessions for small businesses, in the form of abolishing capital gains tax (CGT) for start-up invesments. The rationale behind the suggested reform is that the tax concessions would lead to greater investment to drive innovation. As it currently stands, individuals who invest in new businesses must pay CGT on all equity investments, meaning either individuals will lose their money on an investment or, if it is successful, they will be charged for CGT. Under the proposal from the Coalition, investments in private companies that are less than two years old and have annual revenue of less than $1 million would be CGT free as this is aimed at encouraging investors to put money into start-ups who are starved for capital. Whilst it is just a submission to the governments ‘tax white paper’ it is consist with both the Coalition’s plan to drive the economy through small business and Prime Minister Turnball’s fondness for start-ups. Be sure to keep an eye on our social media as we update clients more on proposed changes for start-ups, and read more about the proposal here http://www.afr.com/news/politics/morrison-considers-capital-gains-tax-break-for-startups-20151002-gjzxcr.

Reserving a Company Name 2015/10/01 03:02

If you have thought of a great company name but aren’t quite ready to register you company, mechanisms do exist to allow you to reserve that name so no other entity can register it. To reserve a company name with ASIC, you will need to download and lodge Form 410 – Reserve a company name for a proprietary limited company. Doing this gives you exclusive rights to registering the name for up to 2 months, and if you fail to register the company in this time, the name then becomes available to anyone. Provided you have good reason, ASIC may allow you to reserve the name again for a further 2 months, however this is generally only in exceptional circumstances. When you do decide to register your company, our application form will prompt you for the reservation number provided by ASIC. This is essential as the company will not be able to register without the reservation number. Please note there is a $46 fee for reserving a company name with ASIC. For more information get in touch with our service staff or visit http://www.asic.gov.au/regulatory-resources/forms/forms-folder/410-application-for-reservation-of-a-name/

Overseas Directors & Shareholders 2015/09/24 12:47

We receive a lot of questions in regards to registering companies with foreign directors and shareholders, however ASIC has strict rules in regards to this matter. To register a company, ASIC requires that at least one shareholder/director must ordinarily reside in Australia, with a fixed residential address. This can also be used as the company’s registered address. Therefore, as long as at least one member of your company is an Australian resident, you are able to register a company with overseas officeholders, such as directors or shareholders. Important things to note: A company’s registered business address cannot be a P.O. Box & the address of directors/shareholders can also not be a P.O. Box or a commercial address. For more information in regards to company officeholder’s, get in touch with our service staff or visit http://asic.gov.au/for-business/starting-a-company/minimum-officeholders/

Trusts & Stamp Duty 2015/09/17 12:37

Trusts provide a number of benefits for individuals and companies in the form of tax concessions and helping to facilitate the running of businesses. However, it is important to be aware of the Stamp Duty obligations associated with setting up a trust. Generally speaking, Stamp Duty is a state based taxed imposed on documents that give rise to certain transactions, such as setting up a Trust. In order for your trust to be compliant, you will need to have it “stamped” by the state authority, which can be arranged by professionals such as lawyers, accountants or tax agents. Each state and territory has different stamp duty charges, so it’s important to understand what fee is associated with your trust - Vic $200; NSW $500 plus $10 per counterpart; NT $20 plus $5 per counterpart; TAS $50; WA, QLD & ACT N/A. There are a number of ways to get your trust stamped including: Visit your state revenue office in person, pay online through your state revenue office portal or contact your accountant who will be able to facilitate the stamping on your behalf.For more information or advice about what’s best for you, get in touch with our support staff or visit http://www.business.gov.au/business-topics/tax-finance/insurance/taxation/Pages/stamp-duty.aspx

Other Registration & Complaince Matters 2015/09/10 12:06

Company 123 is the ideal place to register your Proprietary Limited company as our easy to use format saves you time and money – but now you’re registered, what’s the next step? Before you can start trading, you also need to register for other taxes and compliance matters. Firstly, every business entity needs its own Australian Business Number or ABN. Whilst you may own the Business Name as a sole trader, creating a company creates a new legal entity, so you will need to register a new ABN. Just like individuals, companies have to lodge Tax Returns with the ATO, so you will also need to create a Tax File Number for the company, and this TFN is separate to your personal one. Depending on the nature of your business, you may also need to register for GST, as this is a compulsory tax on consumption of most goods and services, with a few exceptions. GST registration is compulsory if your business has a turnover of $75 000 or more. Finally, if you company has employees who work for you, it is compulsory to register Pay As You Go (PAYG) withholding, as this is how businesses collect and pay tax on the wages paid to employees. If you’d like further information head to http://www.business.gov.au/registration-and-licences/Pages/default.aspx or get in touch with our staff who can assist you.

Different types of Business Structures 2015/09/03 01:27

If you’re looking to start a new business, there are a number of different ways of structuring and running your business, each with their own advantages and disadvantages depending on the nature of your business. At Company 123, we specialise in registering Proprietary Limited Companies. By creating a company, you establish a separate legal entity that has the ability to buy and sell in its own name, as well as incur debt. Whilst this does create a layer of protection for shareholders, PTY LTD companies are subject to greater compliance costs and reporting requirements than some of the other structures. A sole trade is the most basic form of structure, as this is where one individual controls, runs and manages all aspects of the business however this does make you liable for the legal obligations of the business. Your sole trader business name needs to be registered with ASIC. Similarly, a Partnership has a registered business name but the responsibilities of the business are shared by two people. It is common for a partnership agreement to operate, as this ensures that the guidelines of your business are clearly set out. Finally, a Trust places an obligation on the person (a trustee) to hold an asset for the benefits of other (beneficiaries). Whilst a number of tax concoctions exist for conducting a business through a trust, there are yearly administration fees and the trustee is responsible for the operation of the business. At Company123, we offer both Unit and Family Trusts. For more information get in touch with one of our staff or find out more with ASIC http://www.asic.gov.au/for-business/your-business/your-business-structure/.

Family & Unit Trusts 2015/08/28 02:11

With our Trust Establishment Service being live for over a week now, it has been great to see many uses registering both Family & Unit Trusts. A trust creates a relationship between the holder of the property (the trustee) and those who receive the benefit or entitlements from the property (the beneficiary). For unit trusts, the beneficiaries entitlements are predetermined or fixed, by the terms within the trust deed. This means that the trustee has no say in how much income or capital the beneficiaries receive, as the amount or portion is set out in the trust deed. Alternately, a Family Trust gives the trustee discretion over how much income or capital is paid to beneficiaries as it is earned from the property or asset. Family trusts are common for small businesses as the profits earned here can be passed through the trust and dispersed to the individual beneficiaries. For more information about how trusts operate visit https://www.ato.gov.au/Super/Self-managed-super-funds/Setting-up/Create-the-trust-and-trust-deed/ or get in touch with our Service Staff.

Not sure which structure is more applicable for your business? 2015/08/23 05:05

Not sure which structure is more applicable for your business? Company, Family Trust, Unit Trust, Partnership or sole trader? call us on 03 98320660 and speak to a qualified consultant

Company 123 rocks franchise expo Melbourne! 2015/08/23 03:14

3 days of fun! company 123 proud sponsor of franchise expo ~ melbourne! thank you everyone who attended and to our loyal customers!

Trust Establishment now Avaiable 2015/08/20 11:52

In the biggest development since our establishment, Company 123 is proud to announce that we will now be offering Trust establishment as a part of our services. Maintaining easy to use functionality of our site, the Trust Establishment page offers clients Unit and Family trusts for clients, with a simple 3 step process which allows instant electronic delivery of documents at a cost competitive rate of$90 each (excluding GST). All of our trust documents have been prepared by and reviewed by a practicing Melbourne – based solicitor and accountant with over 50 years’ professional experience, so you can have full confidence in our service. To find out more call 03 9832 0660 or email support@company 123.com.au

Making Changes to your Company 2015/08/14 12:07

Incorporating your company is the first step towards a long and successful business future, but like everything in life, things change and so mechanics do exist that allow you to make changes to your company with as little hassle as possible. Firstly, within 7 days of incorporation, ASIC would have sent you a document with a Corporate Key attached – this is the company’s online login code where you can submit documents and make small changes to your company through ASIC Connect. Changes that can be made through ASIC Connect, change of company address, change of officeholder details, changes to share structure and company office holders. All these changes must be made by completing Form 484 so if you’re looking to issue shares, add a director or change your primary place of business this is the place to start. ASIC also allows you to change your company name, and this is done by submitting Form 205. Please note, changes to company details generally will incur a fee that varies. For more information about changing company details follow the ASIC link below or get in touch with our service staff. http://www.asic.gov.au/regulatory-resources/forms/forms-folder/484-changes-to-company-details-for-australian-companies/

ACN & ABN 2015/08/07 04:19

When registering a Proprietary Limited Company, ASIC as the governing body will issue each company an ACN. The ACN (Australia Company Number) is a unique, 9 digit number issued to each company and help to monitor companies, as the ACN is required to be printed on a number of documents. In many cases, companies will also require an ABN; an Australia Business Number and this is issued by the ATO and is made up of eleven digits. The ABN helps governing bodies and the public to find out detailed information about companies, and can also help businesses with communication and compliance. Fortunately, once you have received an ACN upon registration, you can then use this company to register for an ABN, and the two numbers will be identical, bar 2 numbers. Be sure to check out ASIC for more information or get in touch with our service team http://www.asic.gov.au/for-business/starting-a-company/how-to-start-a-company/australian-company-numbers/

Corporate Key 2015/07/30 11:25

Upon registering a proprietary limited company, ASIC will issue what is known as a Corporate Key. This eight digit number is, initially, unique to every ACN and acts as an online login tool as this allows company officeholders to maintain their company records through ASIC Connect. ASIC issues Corporate Key’s directly to the company within 2 business days of registration, which means here at Company 123, we have no record of your company’s Corporate Key. If you are a member of more than one company, and gain permission to do-so, you have the ability link several companies to one login code, allowing you to access view your company records, lodge forms and receive annual statements and other information for multiple companies. For information about the Corporate Key visit http://www.asic.gov.au/online-

What it means to be a Shareholder 2015/07/23 02:18

When registering a company with us, you are creating a proprietary limited company. This means that the ownerships of your company is limited by shares and have no more than 50 non-employee members and to register you company, you need at least 1 share to be allocated, with the minimum share capital being $0.01. Shareholders are the “owners’ of the company, as they having voting rights in company meetings and influence the way in which companies are run. When allotting shares at the start of you company, the total number of shares, share capital and shareholders is completed up to you as the applicant, what you think is best for your company. Having full discretion of the share capital allows you to best decide who ‘owns’ the company. Shares are also allocated in classes which help to determine the voting rights, rights to dividends and repayment of capital in the case of the company being would up. Share Class options start with ordinary, which is the most common, then continues down to classes A-M and our constitution outlines the differing rights for the share classes. Whilst it isn’t a necessity, shareholders can also be directors of a company.

Officeholders and Members 2015/07/16 02:52

To register a proprietary limited (PTY LTD) company in Australia, your company must fulfil three positions; director, company secretary and public officer. Each of these positions has different roles and responsibilities, however they can all be fulfilled by the same individual. - The directors of a company are primarily responsible for the decision making and running of the company, as it is their role to implement company policy. The powers and functions of directors are set out in the company constitution and it is the job of directors to act in the best interests of the company. As the directing mind and will of the company, directors have the ability to enter into contracts on behalf of the company but must act honestly and fairly whilst meeting contractual obligations. - The role of a company secretary is to ensure that the company abide by the legislative rule of the Corporations Act 2001 (Cth). Practically, it is their job to set up meetings, record minutes, keep records, make payments, and draft contracts and secretaries generally answer to the company directors. Similar to what you may commonly understand as the being a secretary, a company secretary is responsible for the administrative requirements of a company and ensures that all compliance procedures are followed. - The public officer of a company is the individual that is the representative of the company to the Australia Tax Office. It is their role to ensure that the company abides by the taxation obligations set out in s252 of ITTA 1936. - For more information about the roles and requirements of PTY LTD companies visit http://www.asic.gov.au/for-business/running-a-company/company-officeholder-duties/

Financial Compliance for PTY LTD 2015/07/09 01:20

Now that we are in the 2016 financial year, budgetary changes to small business and start-ups are now in effect, so it is important for the officeholders of your company to be aware of their duties when it comes to financial records, particularly around tax time. ASIC requires companies and their officeholders to maintain and prepare accurate and fair financial records detailing; the transactions of the company, the financial position of the company as well as a schedule of records. For a full list of the financial records that can be expected of a company, head to http://www.asic.gov.au/for-business/running-a-company/company-officeholder-duties/what-books-and-records-should-my-company-keep/

Pricing Update 2015/07/02 11:52

Company 123 would like to announce changes to the pricing for our services. Coinciding with the increased ASIC fee from $457 to $463, we now offer the electronic lodgement and delivery of company registration documents for $495 plus GST. If you wish to have these documents professionally printed, bound and delivered, the total price for this service is $550 plus GST. With a number of government incentives for small businesses, now is a great time to register your company so use our simple & trusted service to have all your documents emailed within a minute of approval. Call 03 9832 0660 or write to support@company123.com.au for further information.

Single Client Login 2015/06/26 04:05

Company 123 is very excited to announce the launch of a new login feature for repeat clients. The login service will allow clients and firms to retrieve and review completed applications so that documents can be downloaded manually, and also allows users to continue with an existing application and view the status of applications with ASIC. We hope that by extending our service, client experience with Company 123 is enhanced as this feature makes our easy service that bit more convenient. To find out your login information or for more information call 03 9832 0660 or email support@company 123.com.au

ASIC lodgment and Company Documents 2015/06/17 02:36

Company 123 is an ASIC registered agent (34511) which means that when we electronically lodge your documents to their database, you can be assured that all the necessary requirements and procedures are followed. This means your business will have fully legally compliant documentation to start your business trading. All documentation prepared by a qualified commercial lawyer and accountant at a fraction of the cost charged by legal and accountancy firms. ASIC approval will generally takes a round 1 minute from confirmation and simultaneously we send you all you documents electronically, including Certificate of Registration & ACN, Application for Shares, Consent to Act Documents, Share Certificates, Register of Members, Constitution & Circulating resolution of Directors.

Client Feedback 2015/06/11 02:02

Company 123 prides itself on client support and would love to here from you! If you have any comments, suggestions or quires about our website & services please do not hesitate to get in touch with us through a number of different platforms. We take all feedback seriously and look to act immediately to rectify any issues or improve your experience with us. If there is anything at all, large or small, let us know how we can help.

New LinkedIn Page 2015/06/04 11:45

Did you know LinkedIn now has over 200 Million Members worldwide? The professional’s social network is a great way to share ideas with other professionals, but also provides great opportunity for career development and job sharing. So, we’ve joined the crowd. Our new LinkedIn page is connected with over 900 professionals Australia wide in a number of industries including accounting, law, migration and consulting. By connecting with us, you’re only a few clicks away from a number of highly regarded professionals – connect with us at http://www.linkedin.com/profile/view?id=419309250 and find out more.

Professional Services Network 2015/06/03 12:02

In business, it's all about who you know and Company 123 can connect you with a wide range of industry professionals: Our financial services professionals can find the best finance for you & your business Speak to one of our taxation agents about registering for GST, an ABN or lodging a return Having trouble with your start up? Speak to a lawyer to help guide you through the initial stages of running your company If you’re looking to get your business online, we can connect you with a domain registration service. Connect with us on social media and see just how big our network is!

Priniting Services 2015/05/28 12:29

At Company 123, we're particularly proud of the service we provide, and this includes our optional printing. For an additional fee, we will send all of your company registration documents including Certificate of Registration, Constitution, Share Certificates and more all professionally printed and sent out in a durable folder. All these documents are professionally printed, bound and shipped to you within 2 business days. To find out more about our services call 03 9832 0660 or email support@company123.com.au

Get your Company Online 2015/05/27 01:26

As a part of our services, Company 123 can connect you to highly regarded web developers that can register a domain name for your business, and help you get connect to he modern business world of E-Commerce. To find out more connect with us on social media, email or call us.

No FBT on work-related electronic devices 2015/05/22 06:42

The Government will allow an FBT exemption for small businesses with an aggregated annual turnover of less than $2m that provide employees with more than one qualifying work-related portable electronic device, even where the items have substantially similar functions. Date of effect - These changes will take effect from 1 April 2016, i.e. the start of the 2016-17 FBT year.

Immediate deductibility for professional expenses re start-ups 2015/05/22 12:10

The Government has confirmed that it will allow businesses to immediately deduct a range of professional expenses associated with starting a new business, such as professional, legal and accounting services. For example, legal expenses with establishing a company, trust or partnership. Date of effect - The measure will be available to businesses from the 2015-16 income year.

Small business asset accelerated depreciation write-off up to $20,000 per year 2015/05/20 12:45

Small businesses (aggregate annual turnover less than $2m) would be able to immediately write off assets they start to use or install ready for use, provided the asset costs less than $20,000. [The existing write-off threshold is $1,000 after being reduced from the previous $6,500.] Eligible assets could include things like cars, vans, kitchens, machinery, etc. Date of effect: This will apply for assets acquired and installed ready for use between 7:30pm (AEST) 12 May 2015 and 30 June 2017. It should also be remembered that the threshold applies on a per asset basis, so several assets each costing up to $20,000 would qualify for the write-off if installed ready for use before 30 June 2017. Assets valued at $20,000 or more (which cannot be immediately deducted) can continue to be placed in the small business simplified depreciation pool and depreciated at 15% in the first income year and 30% each income year thereafter. The pool can also be immediately deducted if the balance is less than $20,000 over this period.

Small business tax rate cut to 28.5% & Tax discount for unincorporated small businesses 2015/05/15 01:41

From 1 July 2015, companies with annual turnover of less than $2m would be taxed at a reduced corporate tax rate of 28.5%. Individual taxpayers with business income from an unincorporated business (sole trader, partnership, trust etc.) that have an aggregated annual turnover of less than $2m will be eligible for a small business tax discount. This discount will be 5% of the income tax payable on the business income received from an unincorporated small business entity. Additionally, the discount will be capped at $1,000 per individual for each income year, and delivered as a tax offset through their end of year tax return.

Budget 2015 2015/05/13 03:08

Small business tax rate cut to 28.5% & Tax discount for unincorporated small businesses From 1 July 2015, companies with annual turnover of less than $2m would be taxed at a reduced corporate tax rate of 28.5%. Individual taxpayers with business income from an unincorporated business (sole trader, partnership, trust etc.) that have an aggregated annual turnover of less than $2m will be eligible for a small business tax discount. This discount will be 5% of the income tax payable on the business income received from an unincorporated small business entity. Additionally, the discount will be capped at $1,000 per individual for each income year, and delivered as a tax offset through their end of year tax return. Small business asset accelerated depreciation write-off up to $20,000 per year Small businesses (aggregate annual turnover less than $2m) would be able to immediately write off assets they start to use or install ready for use, provided the asset costs less than $20,000. [The existing write-off threshold is $1,000 after being reduced from the previous $6,500.] Eligible assets could include things like cars, vans, kitchens, machinery, etc. Date of effect: This will apply for assets acquired and installed ready for use between 7:30pm (AEST) 12 May 2015 and 30 June 2017. It should also be remembered that the threshold applies on a per asset basis, so several assets each costing up to $20,000 would qualify for the write-off if installed ready for use before 30 June 2017. Assets valued at $20,000 or more (which cannot be immediately deducted) can continue to be placed in the small business simplified depreciation pool and depreciated at 15% in the first income year and 30% each income year thereafter. The pool can also be immediately deducted if the balance is less than $20,000 over this period. Immediate deductibility for professional expenses re start-ups The Government has confirmed that it will allow businesses to immediately deduct a range of professional expenses associated with starting a new business, such as professional, legal and accounting services. For example, legal expenses with establishing a company, trust or partnership. Date of effect - The measure will be available to businesses from the 2015-16 income year. No FBT on work-related electronic devices The Government will allow an FBT exemption for small businesses with an aggregated annual turnover of less than $2m that provide employees with more than one qualifying work-related portable electronic device, even where the items have substantially similar functions. Date of effect - These changes will take effect from 1 April 2016, i.e. the start of the 2016-17 FBT year.

Professional Services Available 2015/05/08 02:22

Did you know when you register with Company 123 you may be eligible for a complimentary 1 hour session with one of our service professionals? Our financial services professionals can find the best finance for you & your business Speak to one of our taxation agents about registering for GST, an ABN or lodging a return Having trouble with your startup? Speak to a lawyer to help guide you through the initial stages of running your company

Click & Connect with Company 123 2015/05/05 11:44

Staying in touch and up to date with everything Company 123 has never been easier with our new social media links – you can find these at the bottom of our website or on any of our emails. Feel free to connect us and let us know about your experience.

Company 123 Service & Documents 2015/05/01 02:34

As a part of registering your company with us, Company 123 will email all company documents to you within a minute of approval from ASIC. This includes: 1. Certificate of Registration of a Company 2. Application for Shares 3. Consent to Act as Director 4. Consent to Act as Public Officer 5. Consent to Act as Secretary 6. Notice of Appointment of Public Officer 7. Share Certificate 8. Register of Members 9. Constitution 10. Circulating resolution of Directors In addition to this, we can also arrange for your documents to be printed, bound and shipped to you within 2 business days. To find out more about our services call 03 9832 0660 or email support@company123.com.au

Company 123 on social media 2015/04/22 11:45

Getting in touch with Company 123 has never been easier with three new communication platforms: LinkedIn - http://t.co/RdQ751tvDJ Twitter - @company_123 Facebook - facebook.com/company123aus If you have questions or want to find out how we can help your business, connect with us on any one of these sites and we'll assist you in any way we can.

Company123 Registration of companies 2015/03/15 09:48

thank you to our customers who have registered their companies using company123 service. thank you for your feedback. we are pleased to note that most of our customers receive company registration documents in less than 30seconds of their order! best wishes Company123 team

ABN application 2015/02/08 02:45

Once your company is registered, to conduct a business in Australia you may require an ABN. You can register for free on www.abr.business.gov.au or contact our office and a member of our specialist team will assist you with the application.

Company123 2015/02/05 03:22

Online company registration in 5 minutes directly with ASIC. Simple process. Click to register your company today

Company123 News 2015/02/05 03:21

Welcome to Company123 News. Stay tuned for updates

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