Members Voluntary Liquidation v Deregistration

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    Company Deregistration is simpler, quicker and cheaper than a members’ voluntary liquidation. So why not always choose company deregistration?

    An application for deregistration can only be made when all of the following conditions are met:

    • all the members of the company agree to the deregistration; and
    • the company is not carrying on business; and
    • the company’s assets are worth less than $1000; and
    • the company has paid all fees and penalties payable under the Corporations Act; and
    • the company has no outstanding liabilities; and
    • the company is not a party to any legal proceedings.

    CALL US NOW FOR CONFIDENTIAL, FREE ADVICE

    Also try answering the following questions:

    • Do you want a high level of assurance that a company cannot be reinstated?
    • Did the company operate in a high-risk industry, for example, where public liability claims sometimes arise?
    • Will any franking credits or tax free dividends be lost by the deregistration of the company?
    • Are there any outstanding issues the company is still dealing with?

    If you said “Yes!” to any of the above questions, then we recommend a members’ voluntary liquidation rather than a company deregistration. Why not CALL US NOW for CONFIDENTIAL FREE ADVICE specific to your situation

    Want to know more about winding up a solvent company? Visit these pages :

    If you would like to learn more about the Members’ Voluntary Liquidation, please access our full Members’ Voluntary Liquidation guide created by Dissolve’s specialists explaining this in detail.