Each financial year ASIC indexes the fees applicable to register a new company as well as the annual review fees to keep a company registered. The ASIC fees applicable from 1 July 2024 are below.
ASIC annual review fees 2024
- Proprietary company – $321
- SMSF special purpose trustee company – $65
The ASIC fees 2024 have increased from $310 to $321 for a standard proprietary company and from $63 to $65 for an SMSF special purpose trustee company. These increases apply from 1 July 2024 for the 2024/25 financial year.
ASIC Annual Review Fees 2024
For most companies and schemes, their annual review date is the anniversary of their date of registration or incorporation.
ASIC company registration fees 2024
- Proprietary company – $597
The fee to register a standard proprietary company (including a company that will be the trustee of an SMSF) is increasing from $576 in 2023/24 to $597 from 1 July 2024. Grow SMSF will be increasing the fees to set up an SMSF with a special purpose trustee company to accommodate this change.
Increase in ASIC late fees
In addition to the increase in fees for setting up a new company, the fines for paying your ASIC company annual renewal fees are also increasing:
- ASIC late fee – less than 1 month: $96
- ASIC late fee – more than 1 month: $401
A good way to avoid late fees for your company is to pre-pay 10 years of ASIC annual review fees at once. The cost of upfront annual review fees (10 year prepayment) are also increasing from 1 July 2024:
- Proprietary company – $2,381
- SMSF special purpose trustee company – $452
If you would like more information on how you can pre-pay the ASIC fees for your SMSF trustee company, please view the following support article: 10-year prepayment of ASIC annual review fees
Closing a company
When you wind up an SMSF that has a company trustee, you generally will deregister the special purpose trustee company. The ASIC fee for a voluntary deregistration for a company is increasing from $47 to $49 dollars from 1 July 2024.
You can view the full schedule of ASIC fees here: Fees for commonly lodged documents
