|New Company- DBA Documents||$362|
|ASIC fee - no GST#||$576 (from July 2023)|
|Total||$938 (from 1 July 2023)|
# ASIC fee is indexed each 1 July and for FY2023 it was $538. Since we act as your agent to register the company, no GST applies to the ASIC fee.
DBA offers unique services and documentation to incorporate new companies. We offer many value added features not found elsewhere.
Director identification numbers
All directors must have or apply for a director identification number (DIN) before being appointed as a director.
When ordering a company, you declare that each director has a DIN or has applied for one. Significant penalties apply for any breach.
Note that directors must apply for a DIN themselves; advisers are not allowed to apply on their behalf. Advisers can however assist by guiding their clients on the process.
You can apply for a DIN via Australian Business Registry Services (ABRS).
Click here for more information.
Advantages of a DBA company
DBA’s constitution is strategically drafted for all companies, including where the company will trade in its own right, or where it acts as the trustee of an SMSF, discretionary trust or unit trust.
DBA is recognised as Australia’s leading self managed superannuation fund (SMSF) law firm and has used this expertise to prepare a constitution that allows for strategic SMSF planning.
Some of our value added features include:
- Directors have the ability to nominate a successor director to step in on the incapacity or death of a director.
- Greater control can be exercised through using different share classes. ‘Guardian’ shares, for instance, allow a guardian to step in and exercise control in a family dispute.
- If a company wants to act as a sole purpose SMSF trustee (or cease to act as a sole purpose SMSF trustee), there is no need to incur another cost to change the constitution as required by constitutions supplied by many other suppliers.
- The constitution has been drafted to enable the company to be eligible for a reduced ASIC annual fee (approximately an 80% discount from the normal ASIC fee) if the company acts solely as an SMSF trustee. Moreover, the constitution does not need varying if the company starts trading or acts as a trustee of a family trust. Thus, a DBA company can easily switch from one role to another role without the need for further costly documentation.
- A Division 7A loan facility agreement is included just in case a debit loan arises and to ensure a written loan agreement is in existence. This assists in minimising the extra tax and penalties that may otherwise arise.
- A detailed memo on the operation of a company and directors’ duties and shareholders’ rights is included. This document is similar to a PDS to assist clients understand what they need to know when they have a company.
- The constitution has flexibility to issue various share classes other than ordinary shares. This can allow planning for differentiated voting, dividend and capital rights. These differences are summarised as follows:
|Right to vote/pass resolutions||Right to dividends||Right to repayment of share price on winding-up||Right to distribution of surplus assets on winding-up|
Strategic planning advantages
There are numerous strategic planning advantages such as the ability to:
- nominate a successor director to step in on the incapacity or death of a director;
- have a ‘guardian’ step in and exercise control; and
- there are considerable succession planning advantages.
- Covering letter and completion checklist
- Corporate registers
- ASIC and related forms
- Company constitution
- Company Memo
All our companies are reviewed and signed-off by a lawyer.
For more information and related articles
For more information, click on the articles listed below:
- What to do if a company’s constitution is lost
- Why is it important to have a good company constitution?
- Not all companies are created equal
- Company constitutions and SMSFs
- Reducing ASIC fees for SMSF corporate trustees
For more information on the advantages of having a successor director, click on the articles listed below: