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 2023 are below.
ASIC annual review fees 2023
- Proprietary company – $310
- SMSF special purpose trustee company – $63
The ASIC fees 2023 have increased from $290 to $310 for a standard proprietary company and from $59 to $63 for an SMSF special purpose trustee company.
ASIC company registration fees 2023
- Proprietary company – $576
The fee to register a standard proprietary company (including a company that will be the trustee of an SMSF) is increasing from $538 in 2022 to $576 from 1 July 2023. 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: $93
- ASIC late fee – more than 1 month: $387
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 2023:
- Proprietary company – $2,298
- SMSF special purpose trustee company – $436
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 $44 to $47 dollars from 1 July 2023.
You can view the full schedule of ASIC fees here: Fees for commonly lodged documents