Reasons Why You Should Use an ASIC Agent
As Wryde is an ASIC Agent, the question of whether you need an ASIC registered agent is frequently posed.
While it may appear to be an unnecessary expense for a seemingly straightforward process, there are several issues that arise when individuals attempt to manage ASIC on their own.
- Annual reviews may be overlooked or misplaced, resulting in late payments and subsequent fines.
- Failure to update ASIC with changes in director addresses can lead to deregistration of the company.
- Directors may fail to notify ASIC of various company changes within the required timeframe, resulting in late penalties.
- Failure to prepare annual solvency resolutions can result in non-compliance with the Corporations Act.
The added benefit of having an ASIC agent manage these for you is having official documents delivered to them (instead of to you) in case of any legal issues.
In conclusion, while it is possible to manage ASIC independently, it does require utmost organisation, effort and a well-throughout process. With the assistance of an ASIC Agent, you can focus on your business while they handle all compliance matters on your behalf.
Disclaimer: The information contained in this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs and where appropriate seek professional advice. Taxation, legal and other matters referred on this website are of general nature only, and are based on interpretation of laws existing at the time and should be not relied upon in place of appropriate professional advice. Those laws may change from time to time.