Companies and Commonwealth entities are required to pay fees to the Australian Securities & Investment Commission (ASIC).
These fees include those for company registration and annual review.
It’s important you make your ASIC payments on time to avoid further expenses or complications.
We’ve put together this guide on where to make ASIC payments & how you can lodge your ASIC payments.
Where to make ASIC payments & how?
When you lodge company documents, such as forms required to start a company or to submit a financial report, there may be fees involved.
The same goes for registering, renewing, or transferring a business name. Fees also apply if you submit a late lodgement, don’t pay the lodgement fee and when you submit the annual review required to maintain your entity.
What payment methods are accepted for ASIC?
There are several payment methods recognised with ASIC.
– BPAY: Your invoice will contain information allowing you to make a BPAY payment. These payments are usually processed within three business days.
– Credit Card or Post Billpay/Australia Post: If you want to pay by credit card, visit postbillpay.com.au. You can also make a payment over the phone by calling 131 816, or in person by visiting any Australia Post branch.
– Cheque: Cheques made payable to ASIC can be mailed along with the payment slip attached to your invoice to:
Australian Securities and Investments Commission
Locked Bag 5000
Gippsland Mail Centre VIC 3841
How Often Do You Pay ASIC Fees?
If you operate a company or scheme, you’ll be required to pay annual review fees in order to keep it operational.
These are usually required around the time of year during which the entity was registered. The amount you pay depends on the entity you run.
If you’re a public company, you’ll currently need to pay $1,346 in annual fees.
If you’re a public special purpose company, this fee drops to $55.
Some fees, such as annual review fees, can be paid in advance.
If you advance your payment on annual review fees, your payment will cover 10 years and will be discounted.
Some companies or schemes choose advance payments to protect themselves from future fee increases throughout the duration of the payment.
Where to make ASIC payments & how to make payments: ASIC Payment FAQs
Are ASIC fees tax deductible?
Fees paid as part of the ASIC annual review are tax-deductible.
How do I access my ASIC company statement?
Your annual statement will be sent to the address of your registered agent, if you have one; your online account if you are registered; your nominated mailing address; or your company’s registered office address.
If your annual statement does not arrive within five days of your review date, please get in touch with us.
How do I check my ASIC account balance?
If you’re a business name holder, you will not be able to check your account balance online.
Please contact us if you require a copy of an invoice or would like to check your balance.
As a company, you will need registration for online access before you’re able to check your balance.
Once logged in to your online account, select “View company details” and then navigate to “Debtor details”, which will show you how much is due.
Registered agents are able to check the account balance for all companies under their care through requesting a Company Debt Report (RA67).
This report features important information, including total amounts owing and the amount payable.
If you want to confirm the amount payable as part of industry funding, you’ll need to send us an online enquiry.
These levies or penalties will not feature in your account balance visible on your portal or in a RA67.
When you contact us, please include the details (ACN and name) of your entity, the invoice account number, and the industry funding invoice number.
Are ASIC fees GST free or BAS excluded?
ASIC fees are GST-free.
Do I need to pay ASIC fees for company searches?
From September 2023, the fees paid to ASIC for company searches – which usually start at $40 for a document – will be removed.
This will pave the way for the launch of Australia’s Business Registers online platform.
It is believed this platform will allow “retail searches” performed by individuals, media providers, or prospective company buyers or partners, at no charge, while the fee for “wholesale searches” conducted by credit agencies or data providers has not yet been announced.
What do I do if I have missing payments?
There could be several reasons why your payment is not showing up.
If you’ve made a cheque payment, it can take several days to be processed.
If the cheque has been paid but is not showing up in your account, or if it has not been registered after a few days, contact ASIC online quoting your cheque account details, the cheque number, the drawer’s name, and the date it was sent to us.
If a Post Billpay payment is missing, and you don’t have a receipt, you will need to get in touch with Australia Post.
If you do have a receipt and can’t see your payment, or paid the incorrect amount, submit an online enquiry with the receipt as an attachment.
If you’ve made a BPAY payment, this can take up to three days to process.
If you discover you’ve paid using the wrong biller code, contact your bank immediately.
If you used a different reference number or submitted one payment for covering multiple accounts, send ASIC an online enquiry including your reference number, any incorrect reference number used, your account name, the amount paid, and the proof of payment.
If you paid an industry funding levy or penalty, send ASIC an online enquiry to confirm the correct balance.
In your enquiry, please include the details of the entity (ACN and name), the account number listed on the invoice, and the invoice number.
Make Your ASIC Payment on Time
When you run a company or entity, you’ll know all about the costs of keeping it running.
Many of these costs feature as fees payable to ASIC, and it’s important you lodge these payments on time to avoid penalties or complications.
The team at Sydney’s Pherrus Financial Services is here to make managing your company or entity simple and stress-free.
We’re experienced, qualified accountants, agents, lawyers, and consultants committed to offering honest, individualised advice and assistance when you need it most.
Contact us today to speak to our friendly team to learn more about where to make ASIC payments & how to make them.