Home – New Forums Starting your journey Can I register my company and trust in a different state?

  • This topic is empty.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #988563
    ExploreYogaGirl
    Member
    • Total posts: 14
    Up
    0
    ::

    Hi,

    This is my first visit here and I have just done a quick search to see if I could find an answer to my question. I have also called ASIC and had a fairly generic response. I am booked in with the accountant but not till a week and a half away (due to having chemotherapy next week and being out of action for a few days). I was hoping to have a bit of an idea before than if possible please?

    I am hoping someone may be able to advise whether it is possible to register a company in a different state to where I am currently based? We are currently in NSW but may be moving interstate at the end of the year. I noticed on the ASIC website that the fee to change the registered state is nearly as high as the actual set up fee! No fee to change contact address however.

    Does it actually matter which state the company is registered in? If we move, can we keep it registered in NSW but change our contact address? Or register initially in say Qld whilst based in NSW?

    I noticed on another post that there seems to be possible benefits to a Vic state registration in terms of stamp duty – not that we are planning to sell! Are there other considerations for state of registration I should be aware of?

    We will also likely be setting up a trust – will there be any implications in relation to which state for the trust in relation to moving?

    Thanks for your guidance. Have a great day.

    M

    #1167774
    James Millar
    Participant
    • Total posts: 1,739
    Up
    0
    ::
    OzSnowgirl, post: 194413 wrote:
    Hi,

    This is my first visit here and I have just done a quick search to see if I could find an answer to my question. I have also called ASIC and had a fairly generic response. I am booked in with the accountant but not till a week and a half away (due to having chemotherapy next week and being out of action for a few days). I was hoping to have a bit of an idea before than if possible please?

    I am hoping someone may be able to advise whether it is possible to register a company in a different state to where I am currently based? We are currently in NSW but may be moving interstate at the end of the year. I noticed on the ASIC website that the fee to change the registered state is nearly as high as the actual set up fee! No fee to change contact address however.

    Does it actually matter which state the company is registered in? If we move, can we keep it registered in NSW but change our contact address? Or register initially in say Qld whilst based in NSW?

    I noticed on another post that there seems to be possible benefits to a Vic state registration in terms of stamp duty – not that we are planning to sell! Are there other considerations for state of registration I should be aware of?

    We will also likely be setting up a trust – will there be any implications in relation to which state for the trust in relation to moving?

    Thanks for your guidance. Have a great day.

    M

    The trust deed needs to be settled initially (and signed) in the governing state. After that it is free to operate under federal tax law anywhere in Australia. I think the Vic stamp duty on trusts is considerably less than NSW (and I recall NSW is also less flexible with regard to trust distributions in lieu of employment remuneration).

    The company will need a registered office so if there are state tax advantages in Victoria then you will need to maintain something here. We offer the annual service for about $250 including various other minor ASIC compliance items.

    1. Measure the tax benefits of VIC versus NSW.
    2. Measure any additional compliance cost of operating in Vic (from NSW)

    If (1) is significantly more than (2) then you have an answer. Setup in Vic.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.