Registering a company (Pty ltd)

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  Platinumtelecom on 04/05/2021 - 05:48

  Go to your local accountant.

• 

  lubos on 04/05/2021 - 08:37

  $510 which they quote will include ASIC fee but the catch is "from just $510"

  So this will give you ACN number and that's it. You will probably need to pay them for ABN, TFN, GST, PAYG registrations too. Who knows how much is that.

  Trustdeed.com.au will do company registration + ABN/TFN/GST/PAYG for $610.

  However, do you need a company at all? There are other legal structures such as trusts and partnerships which may suit your circumstances better.

  • 

    yjun355 on 04/05/2021 - 08:42

    Thanks a lot. Good to know. Yeah we do need a company.

    • 

      Chandler on 04/05/2021 - 09:55

      -1

      Then what did the person who told you you need a company say about registering one?

      or

      What did your research finding that you need a company say about registering one?

      Sounds like you've done half your research, and want your OzBargain compatriots to do the other half…

      • 

        yjun355 on 04/05/2021 - 10:08

        Thanks for your concern. To answer your question:

        "What did your research finding that you need a company say about registering one?"

        Research said that you go through one of these services who do the lot for you. Now simply using "Find Me Bargain" to see which one people used previously.
        I thought that was the point of the this thread topic. I don't thing any of the OzBargain compatriots are doing any research. If they are, i am very grateful.

        • 

          Chandler on 04/05/2021 - 10:14

          @yjun355: This is something I don't think you should be skimping on - last thing you want to find out is that your fly-by-night company registration company has screwed the pooch and your facing consequences because of it.

          Having said that, I've no research or experience in the matter.

          • 

            yjun355 on 04/05/2021 - 11:06

            @Chandler: Thanks. I didn't understand by that reference:
            "last thing you want to find out is that your fly-by-night company registration company"

            You mean the company wasn't structured correctly?

            • 

              Chandler on 04/05/2021 - 14:36

              @yjun355: I meant that you don't (necessarily) want to find a "bargain" place (company registration company) to register your company as they may not do a good job of it. I also presumed that if they don't set things up properly it's still going to be on you to rectify or suffer any penalties, especially if the place you used to set it all up doesn't exist any more ("fly-by-night").

              • 

                yjun355 on 04/05/2021 - 14:38

                @Chandler: I see. I get your point now. Makes sense. Thanks

  • 

    kipps on 04/05/2021 - 09:03

    -2

    Take legal advice before you ever set up a business as a partnership. A lawyer will confirm they are bad, bad, bad.

    • 

      lubos on 04/05/2021 - 09:23

      +5

      Then run away as fast as you can from lawyer or accountant who makes these blanket statements. You are getting bad advice.

      It always depends on your circumstances which legal entity is the best. For example, husband and wife having normal jobs starting new business on the side which requires upfront investment - the partnership would be the best. The initial business losses in partnership can be distributed to both husband and wife significantly decreasing their assessable income year by year until their business takes off (similar how negative gearing works for real-estate investors).

      How many failed businesses in Australia with retained losses which company shareholders or trust beneficiaries cannot ever unlock…

      • 

        yjun355 on 04/05/2021 - 10:09

        Thanks. Good insight.

• 

  ausmechkeyboards on 04/05/2021 - 08:55

  +3

  I used onlinecompany.com.au when I did it. Came out to be about $50 in their fees (on top of ASIC's) to do the whole lot, including ABN and whatnot.

• 

  sly on 04/05/2021 - 09:06

  +1

  I used Company123. The pricing information is as follows:

  $550 (inc GST), where $506 goes to ASIC. They will also give you documentation for company's constitution, AGM documentation, etc.
  On top of that, you probably need to add another $50 for company ABN, TFN and GST registration. You can do all these yourself I believe, but need to navigate through a lot of documentations and forms.

• 

  mreddie on 04/05/2021 - 10:50

  Speak to your accountant or get a good accountant and they will guide you through it.

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  dazweeja on 04/05/2021 - 12:05

  NAB has partnered with Easy Companies, which has prices in line with the others here:

  https://www.nab.com.au/business/small-business/moments/start…