ClearNews: ASIC fee increase; helpline extended hours; online trademarks; and more

Jun 2011

Every few months ClearNews tells you what's new at Cleardocs. We also send you the monthly newsletter ClearLaw with legal updates from our lawyers, Maddocks — helping you be informed about legal developments relevant to the documents we provide.

This month's ClearNews

Helpline hours extended for the end of financial year

We will answer our helpline for longer hours than usual in the build up to the end of the financial year — for example, we'll answer it:

  • on the weekend, Saturday 25 and Sunday 26 June from 9am until 5pm, at least; and
  • each day from Monday 27 June until Thursday 30 June until at least 8pm.

ASIC fees increase from 1 July

On 1 July 2011, the ASIC fee:

  • for registering a Proprietary Limited (Pty Ltd) company will increase from $412 to $426. The Cleardocs fee of $137.50 (inc. GST) will stay the same.
  • for reserving a name (or extending a name reservation) for a Proprietary Limited (Pty Ltd) company will increase from $41 to $42. The Cleardocs fee of $22 (inc. GST) will stay the same.

Various other ASIC fees are increasing.

Also, there will be a one-off increase to ASIC's company annual review fee.

You can read more information about the new fees here on ASIC's website.

Register a trademark for your business — here's why, and how

“Copy and paste” a Cleardocs order to start a similar new order — saves you retyping information

To help you save time when ordering document packages from Cleardocs, you can now:

  • "Copy" your answers from one of your orders on Cleardocs; and
  • click to "Paste" those answers in to the interface for your next order for the same type of document package.

The new feature is free to use.

How does the new feature save you time?

The new "Copy & Paste" feature saves you retyping information when, for example you are ordering:

  • 2 or more standard employment contracts for different employees starting in similar roles; or
  • 2 or more SMSF borrowing packages to cover separate loans to the same SMSF — you might be ordering the 2 packages at the same time, or with a long gap in between.

Which document packages have the new "Copy and paste" feature?

The new "Copy and Paste" feature is available for:

  • Company Registrations;
  • Trusts: Discretionary, Unit, and Hybrid; and
  • SMSFs: fund set up; borrowing (bank, and related party); and pension set up. For the other SMSF products, the existing Cleardocs system already lets you recall earlier answers when you start a new order.

How does the "Copy and paste" feature work?

The new "Copy and Paste" feature is very simple to use. Here's how it works:

  1. log in at Cleardocs
  2. click the green button "More" for the order you want to copy
  3. in the "What's next ...?" box on the left, click the link "Copy" and "Paste" these answers to start a new order
  4. on the next page, type in the "Client name" and "Matter name" for the new order you want to create with the copied answers
  5. tick the "I understand..." box near the bottom of the page
  6. click the "Copy and Paste" button at the bottom of the page
  7. on the next page, you will see the interface for your new order with all (or nearly all) of the answers already completed. You just need to read though and check that the answers are correct. You may also need to type in an answer or 2 — for example if you are ordering an employment contract, you will need to type in the employee's name and address.
  8. Complete, check, and pay for the document package in the usual way.

New documents available for SMSF: ABN & TFN online checklist; and Macquarie Bank Cash Management Account form

To help you with the "next steps" you need to take after ordering a document package from Cleardocs, we are adding optional documents relevant to those next steps.

The first new documents are:

  • an ABN and TFN registration online ordering checklist for an SMSF; and
  • an application form, and Product Disclosure Statement, for a Macquarie Bank Cash Management Account.

You can add the new documents to your SMSF order for an extra $5.50 inc. GST. The fee covers all the documents. If you don't need some of the documents, then you can ignore them when they arrive.

What is the Macquarie application form?

The application form, and Product Disclosure Statement, for the Macquarie Bank Cash Management Account enables the SMSF trustee(s) to apply for a Macquarie Cash Management Account for the SMSF. Cleardocs has automatically completed as much of the form as possible on the basis of the answers you provide when ordering the SMSF.

To apply for the account, the SMSF trustee(s) need:

  • to complete the few sections of the form that Cleardocs isn't able to complete (because we don't have the information);
  • to sign it; and
  • to send it to Macquarie.

What is the "ABN & TFN answer checklist"?

The ABN and TFN registration checklist is automatically generated by the Cleardocs system on the basis of the answers you provide when ordering your SMSF. The checklist is fully completed with the specific answers you need to order an ABN and TFN for that particular SMSF.

Why order the ABN and TFN answer checklist?

The ABN and TFN answer checklist makes it easy to order the ABN and TFN for your SMSF from the ATO's website.

If you order the checklist, then we will send you a document that sets out:

  • in the left-hand column, the 30 (approx.) questions the ATO asks you on its online ABN and TFN registration form — there's one checklist for the one combined online form; and
  • in the right-hand column, the answers you need to type in on the ATO's website to order the ABN and TFN for your particular SMSF.

You can copy and paste the answers from the checklist into the ATO's online form.

The checklist also tells you the web address to go to for the ATO's online form.

Do you need an ABN and TFN?

Your SMSF almost certainly needs to register:

  • for an ABN — which is the SMSF's "Australian Business Number", this registers the SMSF for the Goods and Services Tax ("GST") system; or
  • for a TFN — which is the SMSF's "Tax File Number", this registers the SMSF for income tax and most other federal taxes.

What about an ACN?

An "ACN" is an Australian Company Number which is issued to a company when it is registered by ASIC - that is, the Australian Securities and Investments Commission.

The ACN is quite different from the ABN and TFN.

If you register a company through Cleardocs, you will receive the ACN for that company — you can read about ordering a company online here.

We will be launching an ABN and TFN form for new companies in the next few weeks.

Any questions?

If you have any questions, please call our free helpline on 1300 307 343.

Standard employment contracts — discounts for bulk orders

You are entitled to a discount if you are ordering more than 4 standard employment documents for the same employer at about the same time. You can call us on 1300 307 343 to discuss and arrange your discount.

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