Phone Number (07) 5655 4410
Contact Email admin@cybersmsf.com.au

ASIC 10-year prepayment

Posted by Rob McAskill | December, 21 2021

ASIC 10-year prepayment

by | Dec 21, 2021 | Uncategorized

Does your SMSF have a Corporate Trustee?

Each year you will receive an annual statement from ASIC which will contain:

  • A statement of your company’s current details
  • An invoice for your company’s annual review fee

To keep your company registered, you must complete the following:

  • Pay the annual company review fee
  • Check and update your company details
  • Pass a solvency resolution

If you fail to pay your annual review company fee on time, then ASIC late payment fees will apply.

 

However, there is a solution to help you avoid these late payment fees and the frustration of making these annual payments.

A Company can choose to pay their annual review fee for 10 years in advance at a discounted rate.

Advance payments also protect a company from future fee increases for the length of the payment.

 

The below examples are for the year commencing 1 July 2022.

For Special Purpose Company (Trustee of SMSF):

  • The current annual review fee is $59
  • The advance payment for 10 years is $407

 

For Standard Company (Trustee of a Bare Trust)

  • The current annual review fee is $290
  • The advance payment for 10 years is $2,147

 

How can we help?

To take advantage of this ASIC 10-year prepayment simply contact the team at Cyber SMSF on admin@cybersmsf.com.au or phone (07) 5655 4410 for your unique BPAY details.

Once you have made the payment, we will notify ASIC using their remittance form to have the payment applied for 10 years.

TESTIMONIALS

We just wanted to let you know how much we have appreciated your Class training sessions.
You clearly have a detailed knowledge of the software and superannuation law, and are able to explain each step of the process of completing a fund clearly and concisely.
Knowing the most efficient way to process a fund in Class has built good habits into all of us from the start. Considering the myriad of investments our clients have, the process is the key to our efficiency – you have demonstrated step by step the processes that we need to follow.
Thank you again for all of your assistance, and we look forward to working with you again in the new year.

- Michelle
Director, Chelle Corporation Pty Ltd

Our firm engaged Rob to assist with the move to the Class SMSF platform. Robs knowledge and expertise made a significant contribution to ensuring a smooth transition. We’ve had a very positive and productive experience with Rob, and I have no hesitation recommending his services.

- Hamish
Director, Global Destiny

We are an accounting firm operating in Fremantle WA
Our first engagement with Cyber SMSF was when we decided to use Class software for our SMSF super fund clients, we engaged Rob to facilitate the initial transfer of our Funds to Class.
Rob was instrumental is this process and assisted in ensuring our Funds completed and lodged the required authority forms and ensured the feeds were active, we could not have achieved this so efficiently without his help and guidance.
Subsequently, we have engaged Cyber SMSF’s services to provide ongoing administration support and to process the year end data and reporting for our Funds.
Being a small firm, we are able to use our time more effectively whilst being assured our Funds are being completed in a timely manner and with the assurance that our super fund auditors will be able to complete their function with the minimum of fuss.
What we appreciate with Rob is that we have an experienced accountant with SMSF knowledge, which provides us with someone to discuss and resolve complex issues with our Funds.
Rob is very approachable and pleasant to deal with.  He is very professional and for a small firm like ours, this has great time and cost saving advantages.
We have no hesitation in recommending the services provided by CYBER SMSF,

- Mary
TURCO & CO PTY LTD