Voluntary Company Deregistration
At Dissolve we are able to provide a fast, efficient and low cost company deregistration service. We have provided below a timeline for a company deregistration. You don’t need to worry about the detail – at Dissolve we prepare all the documents for you and lodge them on time to ensure the fastest possible deregistration at the lowest possible fee.
1. Step One – Corporate Simplification Review
Conduct a comprehensive review of matters to be attended to in order to position a company or group of companies for deregistration.
2. Step Two – Meeting of Directors
If the company meets the requirements for deregistration, lodge Form 6010 Application for Voluntary Deregistration of a Company with the application fee.
3. Step Three – Receive response from the regulator
The regulator will advise when the application is approved and publish a notice of the proposed deregistration on the Insolvency Notices Website.
4. Step Four – Deregistration
Two months after the notice is published, they will deregister the company unless they receive a request to defer or cancel deregistration of the company.
Effects of Company Deregistration
The main consequences of deregistration are that the company ceases to exist as a separate legal entity and any undistributed property of the company “vests” in the regulator. That is, after deregistration, they will be the party who deals with any assets of the company. For this reason, all assets of the company should be transferred prior to the deregistration application being lodged.
Who can apply for Company Deregistration
The legislation relating to the deregistration of a company is liberal in that an applicant does not require any specific qualifications. The applicant must be the company, a director of the company, a member of the company or a liquidator of the company.
The practicalities are that an applicant needs to be concerned about a number of statutes such as the Income Tax Assessment Act, Fringe Benefits Tax Assessment Act and the Stamp Duties Act. Therefore, in practice, in many cases the process is handed over to a specialist with the relevant experience.
Any proposed deregistration applicant should make themselves very familiar with the full range of responsibilities and powers in making the application.
The professionals at Dissolve have the experience to simplify your corporate structure, and to avoid the many pitfalls that may be experienced by the unwary. Why not CONTACT US NOW for CONFIDENTIAL, FREE ADVICE .
Fees for Voluntary Deregistration
The application fee is about $40.
To help you reach the stage where your company qualifies for a voluntary deregistration, Dissolve offers professional services where professional attention is needed to in getting your company to the required stage at a low fee. The cost of a company deregistration varies according to a number of factors, particularly the size and complexity of the tax issues, the programme of asset realisation and the nature of the assets.
As a guide, a relatively uncomplicated, single company voluntary deregistration costs around $500-$1000 plus a small amount for out-of-pocket expenses. Where a group of companies is involved, considerable efficiencies are possible and a lower fee per company can be achieved.
At Dissolve, by focusing on a single, highly specialised service area, we are able to bring to bear our experience and professional judgement in a systematised way and provide a streamlined and timely service. Because of our focus, we are often able to provide our service at a fee often half that of other service providers.
Want to know more about winding up a solvent company? Visit these pages :
- Member’s Voluntary Liquidation (MVL)
- The MVL Process
- Effects of an MVL
- MVL vs. Voluntary Deregistration
- Forced Deregistration
- Who can act as Liquidator?