Secretarial Services
Company and trust formation services
Whether you are a business owner looking to establish a new business, an accounting practice that helps your clients with business structures, a lawyer that helps with business formations, or an entrepreneur who has never had to deal with business registrations before, Collab Accounting has a complete secretarial service that takes care of all the administrative needs for business structures.
While other business registration services just complete the paperwork, we assist with the selection of the right business structures, proper registrations, ASIC compliance, and deregistrations, allowing you to run your business while we take care of the paperwork.
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- Our Secretarial Services
Company & Trust Formation
We help you form companies or trusts to provide the best structure from a taxation, security, and flexibility viewpoint. This includes ASIC-registered company incorporation and preparation of the constitution, directors, shareholders, and shares issuance structure, or trust deed preparation, trustees, and beneficiaries.
GST Registration and Compliance
GST registration is compulsory if the turnover is above $75k (or $150k for not-for-profits). Voluntary registration can also be beneficial if the turnover is below the compulsory level. We register the GST with the ATO and assist in the proper setup of the accounting systems. We also assist in the proper treatment of GST for the industry.
ABN and TFN Registration
We register the ABN with the Australian Business Register and the TFN with the ATO. We also register the business name with ASIC if necessary to secure and match your tax status.
Deregistrations and Liquidation
Closing your business? We can manage voluntary or insolvent deregistrations with ASIC, coordinate with liquidators if needed, and ensure all steps are completed efficiently. From simple deregistrations to full liquidations, we handle the process professionally and thoroughly.
- Our Capabilities
We handle the chaos, so you can build your business
Entity Structure Expertise
We offer advice on the most suitable structure for your business, be it a company, trust, sole trader, or partnership, based on tax, liability, asset protection, and flexibility considerations.
ASIC and ATO Compliance
We ensure your entity is registered properly, with correct details, correct officeholders, correct constitutions and trust deeds, correct documentation, and no shortcuts taken and no details overlooked.
Integrated with Your Accounting
We incorporate your new entity directly into your accounting system and link it to the appropriate tax registrations.
Professional Deregistration & Wind-Up
We manage the entire company deregistration process to ensure directors are properly protected.
Who We Work with?
Whether you’re a business owner, accountant, lawyer, or entrepreneur starting a new venture, Collab Accounting provides complete secretarial support for your business structure. From choosing the right structure to registrations, ASIC compliance, and deregistrations, we handle the paperwork so you can focus on running your business.
How we Work?
01.
Consultation & Structure Advice
We discuss your business objectives, business structure, tax implications, and asset protection strategies to determine the best structure for your business: company, trust, partnership, or sole trader.
02.
Documentation Preparation
Once the structure is selected, we create all the necessary documents: ASIC documents for companies, trust deeds, partnership agreements where necessary, and other supporting documents.
03.
ASIC and ATO Registrations
Next, we process the incorporation of the company with ASIC, apply for an ABN/TFN with the ATO, register a business name if necessary, and complete GST registration.
04.
Entity Setup Confirmation
On receipt of the ASIC confirmation of incorporation, we issue all the documents related to the new entity: ACN/ABN certificates, constitution/trust deed, TFN notification, GST confirmation, and other relevant documents.
05.
Accounting System Configuration
We set up the new entity within the accounting software package (Xero, QuickBooks, MYOB, etc.), link the ABN/TFN with ASIC/GST, and create an appropriate chart of accounts for day-one operations and bookkeeping.
06.
Ongoing Compliance Support
For companies, we assist with ASIC ongoing compliance: annual reviews, director/shareholder changes, updating the registered office address, and lodging the annual statement.
07.
Deregistration & Wind-Up (When Needed)
When required, we assist with deregistration: final accounts and tax returns, ABN/GST deregistration, ASIC deregistration, and closure of all obligations to prevent ongoing liability.
FAQs
This depends on what you’re aiming to do. Companies have the advantage of limited liability, flexibility in the transfer of shares, and lower tax rates on the retention of profits. Trusts have the advantage of asset protection, flexibility in the distribution of tax liabilities, and estate planning. We can help you determine what is best for you. Many businesses use a combination of the two, such as the use of a corporate trustee for a trust.
This is usually done within 24-48 hours once we have all the necessary information. The ABN and TFN can take a few days. The GST can take up to 28 days, although it can often take less time.
If your turnover is over $75,000, you are required by law to register for GST. If it is under $75,000, you can register voluntarily. This can be beneficial if you wish to claim back GST on the purchase of assets or wish to deal with businesses that are already GST-registered. This can also give the appearance of being an established business.
Lodge the annual review, pay the annual fee, and notify ASIC of changes to directors/shareholders/offices within 28 days. We can handle all of these ongoing obligations for you.
Yes. Restructuring involves tax implications, including CGT rollover relief, stamp duty, and GST, as well as legal implications, including the transfer of assets and novation of contracts. We can coordinate with your solicitor to ensure your restructuring is tax-efficient and compliant.
For companies, voluntary deregistrations require no outstanding ASIC obligations, no trading, no assets/liabilities, and consent of all members. We can handle tax returns and deregistrations and close your company properly. For trusts, we can handle distribution of assets, taxes, and wind-up documents. For insolvent companies, we can coordinate with registered liquidators.
- Ready to set up your business structure the right way?
Contact us today for a free consultation and discover how Collab Accounting can handle your company incorporation, trust formation, registrations, and secretarial compliance with expertise and efficiency.
