ASIC compliance and corporate governance obligations managed correctly and on time.
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Incorporating a company creates a separate legal entity and, with it, a set of ongoing corporate governance and ASIC compliance obligations that exist independently of your tax and accounting requirements. Directors have legal duties. The company register must be maintained. Changes to company details must be lodged correctly and on time. Annual ASIC reviews must be managed each year. We provide corporate secretarial services to incorporated companies as part of a coordinated business accounting relationship, so your ASIC obligations are managed alongside your tax compliance.
Incorporating a company creates a separate legal entity with ongoing ASIC obligations that exist independently of your tax and accounting requirements. Directors have legal duties, the company register must be maintained, and changes must be lodged correctly and on time.
These obligations do not pause when you are focused on running the business. Missing an ASIC lodgement deadline, failing to update the company register, or not documenting director and shareholder resolutions properly can create compliance issues that are difficult and costly to resolve later.
We provide corporate secretarial services to incorporated companies as part of a coordinated business accounting relationship. Your ASIC obligations are managed alongside your tax compliance, so nothing falls between the two.
Common ASIC compliance failure points:
The table below summarises the key ASIC notification timeframes and the consequences of missing them:
| Change or Obligation | Notification Period | Consequence of Delay |
|---|---|---|
| Director appointment or resignation | 28 days from the date of change | Late lodgement fee. Register remains inaccurate |
| Change of registered office | 28 days from the date of change | Late lodgement fee |
| Change of principal place of business | 28 days from the date of change | Late lodgement fee |
| Share allotment | 28 days from the allotment date | Late lodgement fee |
| Annual review fee payment | 2 months from annual statement date | Penalty fees and risk of ASIC deregistration |
| Change of company name | At the time of ASIC approval | ASIC processes the change directly |
We manage the full range of ongoing ASIC obligations and corporate governance documentation for incorporated companies, from annual reviews to register maintenance, Director IDs, successor director planning, and deregistration.
ASIC issues an annual company statement each year that must be reviewed and, where required, actioned within 2 months.
Every company is required to maintain a register of members, a register of directors and secretaries, and other statutory records under the Corporations Act.
Since November 2022, every director of an Australian company must hold a Director ID, applied for through the Australian Business Registry Services using myGovID.
For sole director companies and SMSF corporate trustees, a successor director solution prevents the company being left without a director if the existing director dies or loses capacity.
Changes to directors or secretary must be notified to ASIC within 28 days. Shareholder changes must be reflected in the member register.
Directors are required to pass resolutions for significant decisions, and those resolutions must be documented in formal minutes.
Changes to registered office, principal place of business, company name, or share structure must be lodged with ASIC within the required timeframes.
Issuing new shares or transferring existing shares involves ASIC notification and register updates, with stamp duty considerations in some states.
For groups operating multiple entities, we coordinate ASIC lodgements, register updates, and annual review obligations across the structure. When a company is no longer needed, we manage the deregistration process through ASIC, making sure all conditions are met before the application is lodged.
We provide remote corporate secretarial services to incorporated companies across Australia. Whether you are based in Queensland, New South Wales, Victoria, or anywhere else in Australia, we manage your ASIC obligations with the same consistency and care.
ASIC compliance and corporate register management can be handled efficiently and securely through remote processes, with clear communication throughout. In-person meetings are available on a case-by-case basis.
What is the difference between corporate secretarial services and accounting?
Accounting and tax compliance focuses on your financial records, tax obligations, and ATO requirements. Corporate secretarial services focus on your obligations to ASIC as an incorporated company: company registers, director records, annual reviews, and corporate governance documentation. They are distinct obligations but work best when managed together.
What happens if I miss an ASIC deadline?
ASIC imposes late lodgement fees for missed deadlines, and these fees increase the longer the lodgement remains outstanding. If a company fails to respond to ASIC correspondence or pay its annual review fee, ASIC can deregister the company, which creates significant complications if the company is still trading.
Does my company need to hold annual general meetings?
Proprietary limited companies are generally not required to hold annual general meetings unless the company’s constitution requires it or shareholders make a request. However, directors must still pass required annual resolutions and maintain proper documentation of decisions made throughout the year.
Do we need to appoint a company secretary?
Public companies in Australia are generally required to appoint a company secretary, while proprietary companies are generally not required unless their constitution or governance arrangements require one. We can advise based on your structure and obligations.
Do all directors need a Director ID in Australia?
Yes. Since November 2022, every director of an Australian company (Corporations Act companies, registered foreign companies, and corporate trustees, including SMSF corporate trustees) must hold a Director ID. You must apply before you are appointed if you are becoming a director for the first time. Failure to apply, or applying late without a valid reason, can result in civil and criminal penalties of up to $16,500 for individuals and enforcement action by ASIC.
How do I apply for a Director ID?
You apply through the Australian Business Registry Services (ABRS) at abrs.gov.au. The application is free and only needs to be done once. You need a myGovID with a Standard or Strong identity strength (myGovID is the digital identity app, not the same as myGov). You also verify your identity with two ATO records such as your tax file number, ATO notice of assessment, bank account details linked to the ATO, or super account details. Once verified, you receive your Director ID immediately. We help clients work through the myGovID setup and ABRS process, and keep the Director ID on file alongside their company records.
What is a successor director and why might my company need one?
A successor director is a person nominated in the company constitution to automatically step in as director if the existing director dies, loses capacity, or is otherwise unable to act. For sole director companies, including SMSF corporate trustees, this is critical. Without a successor director mechanism, the company can be left without a director, blocking access to bank accounts, preventing decisions, and potentially triggering breaches of the SIS Act for SMSFs. A successor director solution is set up by amending the company constitution and naming the chosen successor in a clear legal document. We help clients put a successor director solution in place as part of broader succession and continuity planning for the business.
What is the difference between an alternate director and a successor director?
An alternate director acts in place of a director on a temporary basis, usually when the original director is unavailable for meetings or away for a period, with the original director remaining in control. A successor director only takes effect if the original director dies, loses capacity, or otherwise permanently cannot continue, and then takes over the role. Alternate directors are more common for active boards with multiple members. Successor directors are most often used in sole director companies, family businesses, and SMSF corporate trustees where continuity is the priority.
Can you support listed entities or companies preparing for an IPO?
Our core focus is proprietary and private company compliance. Where listed entity or IPO stage requirements apply, we can scope foundational corporate secretarial support and coordinate with specialist advisors for ASX listing rule and continuous disclosure matters.
How often does the company register need to be updated?
The company register must be updated whenever a change occurs, such as a new director is appointed, a shareholder changes their address, shares are transferred, or other details change. There is no annual refresh process; updates must be made as changes happen and notified to ASIC within the required timeframes.
Can you help with a company that has not filed with ASIC for several years?
Yes. We work with companies that have fallen behind on ASIC obligations. We review the outstanding requirements, prepare and lodge the necessary forms, manage any penalty considerations, and bring the company’s ASIC record back into good standing.
Do you work with clients outside Queensland?
Yes. We provide corporate secretarial services to incorporated companies across Australia through a structured remote model, with in person meetings available when it makes sense.
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Whether you are starting a new business, implementing a growth strategy, or reviewing a structure that no longer serves you, we will help you make a clear, informed decision and set everything up properly from the beginning.
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