Home – New Forums Starting your journey How to register a company

  • This topic is empty.
Viewing 12 posts - 1 through 12 (of 12 total)
  • Author
    Posts
  • #966394
    asmgx
    Member
    • Total posts: 34
    Up
    0
    ::

    Hi
    I want to register a company, ABN number, Company name with Pty Ltd.
    how to do that?!
    one more question, whats the difference between comapnies that has “Pty Ltd” and the ones that dont?
    thanks

    #1017942
    King
    Member
    • Total posts: 2,212
    Up
    0
    ::

    Go via your solicitor – see if they have a fixed proce for this. Normally around $900-1000.
    The PtyLtd means they are are limited company, meaning the owners are limited in their financial liability. The one you get would be this.

    #1017943
    asmgx
    Member
    • Total posts: 34
    Up
    0
    ::

    can i do it by myself?
    if so, then how? and how much it will cost me if i want to do it by myself?

    thanks

    King, post: 20721 wrote:
    Go via your solicitor – see if they have a fixed proce for this. Normally around $900-1000.
    The PtyLtd means they are are limited company, meaning the owners are limited in their financial liability. The one you get would be this.
    #1017944
    King
    Member
    • Total posts: 2,212
    Up
    0
    ::

    maybe check the asic website??

    #1017945
    Mr Q
    Member
    • Total posts: 40
    Up
    0
    ::

    You can register it all yourself online at

    http://www.abr.business.gov.au/

    However, it is a good idea to see a solicitor and tell what your intentions are for the business. However, solicitors are expensive so put the vibe out there to all your friends and network and see if you can maybe take one down shout them lunch and ask them lots of questions!! hehe

    They will give the advantages and disadvantages of all the different ways you can register a business.

    As far as I’m aware, the biggest advantages for registering a business as a company pty ltd are;
    1: Tax – you can claim a lot more expenses as a company &
    2: As a pty ltd you are not personally liable if the business fails or goes bankrupt. In other words the Debt Boys can not take your house and personal assests if you are registered as a pty ltd

    :) However, I’m not a solicitor. So please take this advice lightly :)

    #1017946
    FletcherTax
    Member
    • Total posts: 347
    Up
    0
    ::

    Accountants are usually the ones that set up companies.

    ASIC charges $400 for their admin/set up.

    Accountants then add an hour (or two) of their time for completing the required form after discussing all the variables.

    Fletcher Tax Accountants
    http://www.fletchertaxaccountants.com.au

    Please note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.

    #1017947
    King
    Member
    • Total posts: 2,212
    Up
    0
    ::

    our accountant sent us to a solicitor…..

    #1017948
    Mr Q
    Member
    • Total posts: 40
    Up
    0
    ::

    mine too :)

    #1017949
    akagrp
    Member
    • Total posts: 315
    Up
    0
    ::
    King, post: 20858 wrote:
    our accountant sent us to a solicitor…..

    I would be worried if your accountant could not assist you with incorporating a company. Business Structures are what we do, accountants are not just tax accountants.

    You can do it yourself, but the fees you pay to an accountant to assist you with setting up is not just for the Certificate from ASIC, a good advisor will talk you through your obligations as a director, your liability (irrespective of a pty ltd you do have risks) and also if registering a company is the best option for your circumstances.

    I would be making this recommendation even if I was not an accountant.

    A lawyer is required if you are planning of going into business with an unrelated party.

    #1017950
    BrightSpark
    Member
    • Total posts: 131
    Up
    0
    ::

    From my experience most accountants tend to look at setting up a company from the tax point of view while a lawyer tend to look at it from protecting your assets. Either way I think you should also look at also doing a trust as well as the company.

    #1017953
    one1
    Member
    • Total posts: 17
    Up
    0
    ::

    You can do it for $99 at LawCentral website: See: http://www.lawcentral.com.au/CreateDoc/createlink.asp?docId=59

    They have a easy to fill in form that explains most things to you. Then pay the $99 and it will automatically create documents (Constitution, Completed ASIC form etc.) for you. Take or send the completed ASIC form and $400 cheque to an ASIC office and they will register the company on the spot.

    Also I recommend their Employment Contract to use for your staff which is less than $100.

    #1017955
    CONAN
    Member
    • Total posts: 16
    Up
    0
    ::
    King, post: 20858 wrote:
    our accountant sent us to a solicitor…..

    Shouldn’t it be the other way round lol

    You should be able to do it online these days, one of the sites that I was referred to was http://www.registeracompany.com.au/

Viewing 12 posts - 1 through 12 (of 12 total)
  • You must be logged in to reply to this topic.